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Adjusterpro 5- Other Coverages Questions And Answers With Verified Solutions Latest Updated 2024
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Adjusterpro 5- Other Coverages Questions And Answers With Verified Solutions Latest Updated 2024
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Adjusterpro 5- Other CoveragesQuestions And Answers With Verified
Solutions Latest Updated 2024
leading cause of prop damage in US - ANSWER✔✔ Flood
NFIP - ANSWER✔✔ federal insurance
1968 - ANSWER✔✔ NFIP
NFIP an agreement - ANSWER✔✔ local communities and federal gov.
base flood - ANSWER✔✔ so bad that it only happens once 100 years
SFIP - ANSWER✔✔ Standard Flood Insurance Policy
not subject to loocal or state courts or dep of insur. - ANSWER✔✔ Standard Flood
Insurance
1983 - ANSWER✔✔ write your own ( WYO)
Generates 90% of flood polices - ANSWER✔✔ WYO
WYO - ANSWER✔✔ let private insurers sell and underwrite polices
put remaining premiums into NFIP accounts - ANSWER✔✔ WYO private
insurers
,WYO private insurers - ANSWER✔✔ pays claims from NFIP accounts
NFIP policy form - ANSWER✔✔ dwelling, genral, Residential Condo buidling
ass.
flood general form - ANSWER✔✔ non residental buildings + contents
RCBAP - ANSWER✔✔ condo under flood policy
an individual condo owner would purchase - ANSWER✔✔ dwelling policy not
RCBAP
1 trillion assets - ANSWER✔✔ flood, NFIP
NFIP programs - ANSWER✔✔ direct and Write your own
100 year flood - ANSWER✔✔ Base flood elevation
WYO allows - ANSWER✔✔ private insurers sell standardized NFIP, collect
premiums and adjust classed and losses
detach garages under flood - ANSWER✔✔ coverage A, up to 10% of limit
only if inside a coverd muilding - ANSWER✔✔ construction materials under
flood
, coverage A flood, buidling under construction - ANSWER✔✔ deducitble are
double
Flood coverage b - ANSWER✔✔ personal property, contents
contents coverage for flood - ANSWER✔✔ purchase separate and deducitble
applies
other coverages - ANSWER✔✔ flood coverage C
$1000 - ANSWER✔✔ flood mitigation- loss avoidance measures and prop
removed to safety
flood mitigation- loss avoidance measures - ANSWER✔✔ no deductible
Flood Coverage D - ANSWER✔✔ increased Cost of Complinance
increased Cost of Complinance - ANSWER✔✔ imdemnifies when insured follow
state or local floodplain management law, or orfiance that affect the stucutre repair
30,000 - ANSWER✔✔ limit for increased Cost of Complinance
property ir buildings in, on, over water - ANSWER✔✔ SFIP exclusions
60 days of lolss - ANSWER✔✔ subit a proof of loss to NFIP or WYO
60 days - ANSWER✔✔ insurer has to pay for claim
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