Identify the Condition in a Homeowners Policy That Provides That

question 12

Multiple Choice

Identify the condition in a homeowners policy that provides that you cannot bring legal action against the insurer unless you have complied with the policy provisions and the action is started within one year after the occurrence causing loss or damage.

• A)Condition A
• B)Condition G
• C)Condition K
• D)Condition O
• E)Condition R

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Definitions:

Safe Deposit Box

A safe deposit box is a secure container, usually held within a bank, where individuals can store valuable items such as documents, jewelry, and securities.

Expected Pay

The anticipated or forecasted amount of money one expects to receive for work performed or investment.

Probability

A measure of the likelihood that a specific event will occur, expressed as a number between 0 and 1.

Hourly Rate

A rate of payment for one hour of work, often used to calculate wages for part-time or contract employees.