Question

Dwelling policies insure only property and do not automatically contain liability insurance. For this reason, dwelling policies are called

A) Liability Insurance Policies
B) Property-Only Policies
C) Homeowners Policies
D) Uninsured Policies

Answer 1

Dwelling policies are known as Property-Only Policies, which solely cover property damage or loss without liability insurance.

Step-by-step explanation:

Dwelling policies insure only property and do not automatically contain liability insurance. For this reason, dwelling policies are known as Property-Only Policies. These are distinct from other insurance types because they focus solely on covering damages or losses to a person's home or dwelling place, without offering personal liability coverage. It is essential for homeowners or renters to understand the various insurance markets and ensure that they have adequate coverage for their needs.