State Farm 2023|WITH 100% COMPLETE SOLUTIONS|ALREADY GRADED A
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Course
State Farm 2023
Institution
State Farm 2023
Who owns thier renewals
Independents
Events that may NOT be recovered by insurance are
Gambling, investing, market value of home
What underlying coverages typically are required for an umbrella
Auto and Personal
Conditions that prohibit assignments of the policy
Transfer of...
State Farm 2023
Who owns thier renewals - correct answer Independents
Events that may NOT be recovered by insurance are - correct answer Gambling, investing, market value of home
What underlying coverages typically are required for an umbrella - correct answer Auto and Personal
Conditions that prohibit assignments of the policy - correct answer Transfer of rights and duties
Expectant interest are - correct answer Not insured
Flood, power failure and earth movement are - correct answer Excluded on DP & HO
What are the 3 principle rating factors for personal auto - correct answer 1) safe driving record 2) annual miles driving 3) years of driving experience
Fail Plan doesn't not encourage - correct answer Competition
Loss exposures that results in a claim for monetary damage due to injury to another or damage to another's property? - correct answer Liability Loss Exposure
The persons whose property is being insured is the - correct answer Insured
The person seeking for damage is the - correct answer Claimant
When the insurer cancels, the premium is refunded - correct answer Pro-Rata
Representation can qualify as an - correct answer Implied Warranty Fire Dep. service charge, reason repairs and debris removal are considered what on an HO? - correct answer Additional Charges
In an HO coverage for fair rental is included in - correct answer Coverage D
How is combined ratio computed? - correct answer Adding Loss + Expense Ratio
Not purchasing collision coverage for your car is an example of risk - correct answer Retention
Not purchasing a motorboat is an example of - correct answer Avoidance/ elimination
Installing sprinkler system in your home is an example of risk - correct answer Reduction
Purchasing homeowners policy is an expanse of risk - correct answer Transfer
Source of investment funds, payments for losses, reduction in financial uncertainty are considered - correct answer Benefits of Insurance
Unintentional or intentional concealment allows the insured or insurer to - correct answer Rescind
Personal auto policy medical pay,nets limiters are - correct answer Per person
Personal auto liability and insured motorist limits are - correct answer Per occurrence
Perils for inland marine are - correct answer Open Perils
Ho medical pay,eggs coverage F does not apply to _____ or _______ acts - correct answer Jet Ski / intentional
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