One form of the homeowner's policy, HO-2, insures for direct loss to the dwelling, other structures, and personal property caused by eighteen different perils.Only losses caused by these perils are covered.Riot or civil commotion is listed, so a loss caused by either is covered.On the other hand, earthquake is not listed, so a loss caused by earthquake is not covered.Identify the perils policy of HO-2.
A)Closed-perils policy
B)Flexible-perils policy
C)Open-perils policy
D)All risk perils policy
E)Named-perils policy

Question

Quizplus · Accepted Answer

HO-2 is a named-perils policy because it only covers losses caused by specific perils that are listed in the policy.

One Form of the Homeowner's Policy, HO-2, Insures for Direct