Exam (elaborations)
All Lines Pre-License Course for Texas Adjusters 2024/2025 already graded A+
- Course
- Institution
All Lines Pre-License Course for Texas Adjusters 2024/2025 already graded A+
[Show more]
Content preview
All Lines Pre-License Course for TexasAdjusters
Accident - ANSSudden, unexpected events that cause property damage or bodily injury.
Actual Damages - ANSDamages that have a specified cost to repair them
Actual Total Loss - ANSComplete destruction of insured property, so that nothing of value
remains.
ACV (Actual Cash Value) - ANSThis is the value of the property after depreciation. As
ALE (Additional Living Expense) - ANSIf a homeowner is temporarily displaced from their home
due to a catastrophe to allow repairs, certain homeowner's policies provide coverage to help
defray this cost.
All Risk Policy - ANSThis policy is only in name as there is no policy that actually covers all
perils, though this policy is the most common. Every policy has some condition, provision, or
exclusion, which limits coverage.
Amendment - ANSA document attached to a policy reflecting a change to the policy language
made by the insurance company or the department of insurance
Assumption of Risk - ANSIf a person/company knows ahead of time that there is a possibility of
injury, or worse, and agree not to hold anyone else responsible if an accident occurs, there
really isn't negligence and insurance companies will generally not be liable and will resist paying
Attachment - ANScourt order allowing one person to take something of value belonging to
another into custody for a particular purpose.
Bailee - ANSPerson(s) who, with permission, take care of another person/company's property.
Basic Form - ANSThe least expensive structural ACV policy covers only three perils on the
structure and contents: fire, lightning, and demolition/removal. You may see the number "1" or
"A" in the form number, such as HO-1 or HO-A.
Barratry - ANSFraud or gross negligence of a ship's master or crew at the expense of its owner
or users
Blanket Coverage - ANSThis is a specific endorsement that provides a preset dollar amount to a
particular category, i.e. $500 for "tree removal", $10,000 for "personal property.
, Bodily Injury - ANSBodily injuries, legal defense, and compensation to other parties caused by
an insured.
Bond - ANSA secured, long-term IOU with issuer obligations
Broad Form - ANSA bit costlier than the Basic Form, it covers 16 named perils on structure and
content. It only pays (ACV), not (RCV). Often, you may see the number "2" or "B" in the form
number, such as HO2, HO-B.
Cause & Origin (C&O) Investigation - ANSInvestigations often used to determine how, when,
and why, specific damage occurred.
Cancellation - ANSAn insurance company or the insured can cancel a policy with 60 days'
notice for various reasons, such as a change in the coverage, criminal felony conviction,
misrepresentation in the policy application, etc.
Cargo - ANSGoods transported by truck, train, ship, or aircraft. Also known as Freight.
Claimant - ANS"First Party" files a claim against his own insurance company, aka "Second
Party." A "Third Party" is someone who files a claim against someone else's insurance company.
Collision Coverage - ANSAuto coverage for impact damage.
Comprehensive Coverage - ANSAuto coverage for non-collision damage, such as fire,
vandalism, theft, flood, etc.
Conditions - ANSThis is one of four basic parts of an insurance policy. This section has two
main parts, "Your Duties After Loss" and "Settlement Provisions."
Constructive Total Loss - ANSThe cost to repair an insured item exceeds the cost to replace the
item, regardless of RCV or ACV policy
Contents - ANSPersonal property such as clothing, furniture, televisions, computers, etc.
CE - ANS24 Continuing Education hours are required every two years. 50% (12) hours must be
in a classroom or classroom equivalent. Two hours must be ethics/consumer protection.
Contract - ANSA written agreement (i.e. insurance policy) between two competent parties.
Date Of Discovery - ANSThe date when the damages were noticed which is often different from,
and not to be confused with, the date of loss.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Ashley96. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
64670 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 15 years now
Recently viewed by you
Exam (elaborations) ·
Energy, Bill Nye Questions and Answers | Latest Update | 2024/2025 | Rated A+
Exam (elaborations) ·
Focus on Adult Health Medical Surgical Nursing 2nd Edition Honan Test Bank
Exam (elaborations) ·
TEST BANK FOR NEEB’S MENTAL HEALTH NURSING 5TH EDITION BY GORMAN LATEST COMPLETE UPDATE
Exam (elaborations) ·
BIO 107 EXAM 2024 QUESTIONS WITH DETAILED VERIFIED ANSWERS | A+ GRADE ASSURED
Exam (elaborations) ·
ATI RN LEADERSHIP NEWEST UPDATED WITH BEST AND VERIFIED SOLUTION 2023-2024
Exam (elaborations) ·
PSY 7712 Unit 2 Questions and 100% correct Answers- Capella University
Exam (elaborations) ·
UHM HWST 107 Final Exam Questions and answers, 100% Accurate. Graded A+
Exam (elaborations) ·
AHA HeartCode BLS 2025 exam | Questions and Verified Solutions Latest Update
