Registered Insurance Brokers of Ontario (RIBO) Practice Exam

Since the deductible of Section 7 of O.A.P. 1 Owner's Form applies to loss or damage coverages, it does not apply to comprehensive perils such as lightening, which is covered under the "All Perils" coverage of Section 3. Therefore, option B is the correct answer.

Option A, water damage, is typically subject to a separate deductible under the "Special Perils" coverage of Section 4. Option C, vandalism, and option D, windstorm, are both covered under the "All Perils" coverage and would therefore be subject to the deductible mentioned in the question.