All the following are provisions in the HO-3 contract that can decrease amounts payable by the insurance company except:

Question

Quizplus · Accepted Answer

The mortgage clause is not a provision that can decrease amounts payable by the insurance company, but rather a provision that protects the interests of the mortgage holder by requiring the insurance company to pay any claims to both the insured and the mortgage holder. Deductibles, coinsurance/replacement cost provisions, and special limits on certain types of property can all decrease the amounts payable by the insurance company in the event of a claim.

All the Following Are Provisions in the HO-3 Contract That