STATE FARM PROPERTY AND CASUALTY Questions & 100% Correct Answers
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Course
State Farm Auto
Institution
State Farm Auto
duties of the insured
~~> 1. pay the premium
2. take all reasonable means to save and protect the property from
loss
3. give the insurance company immediate notice of loss
4. give the insurance company proof of loss within 60 days of the loss
5. separate the damaged property from...
select an appraiser. if the appraisers disagree, they select an umpire
appraiser who will make the final determination
the subrogation clause
✓ ~~> states that the insurance company can require the insured to
assign (transfer) to it any legal rights which the insured has against third
parties to the insurance company at the time of loss
assignment clause
✓ ~~> 1. transfer of a policy to another person
2. assignment clause of property insurance policy says no assignment of the
policy is valid unless signed by an officer of the insurance company
the other insurance clause
✓ ~~> states that the insurance company can either prohibit other
insurance or can limit the amount of other insurance by adding an
endorsement to the policy
pro rata liability clause
Master01 | September, 2024/2025 | Latest update
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