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1. Question
To review Chapter 18, “Home Ownership and Construction,” match each of the following terms to one of the descriptions below.
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- Flood insurance
- Replacement cost
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This type of insurance, also called an HO-1 policy, covers the fewest perils.
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Also known as an all-risk policy, this type of policy offers the most complete coverage for a homeowner.
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The federal government passed an act in 1968 to help at-risk homeowners obtain this type of insurance.
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In most cases, the policy will pay the insured this (the cost of a new structure to take the place of the damaged structure).
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