Florida Insurance Licensing Practice Exam

The HO-3 will cover a stolen hearing aid belonging to Aunt Mary who lives with the insured Homeowner.

1. True

2. False

3. Only with a special endorsement

4. Not applicable as personal items are excluded

The correct answer is: True

The HO-3 insurance policy provides coverage for personal belongings of both the insured homeowner and relatives living in the same household. Therefore, if Aunt Mary's hearing aid is stolen, it will be covered under the homeowner's policy. The other options are incorrect because - Option B is incorrect because the HO-3 policy does cover personal items, unlike option D suggests. - Option C is incorrect because a special endorsement is not needed for personal items, as they are already covered under the standard policy. - Option D is incorrect because personal items are not excluded from coverage under the HO-3 policy.