Exam (elaborations)
Adjusterpro 5- Other Coverages Questions And Answers With Verified Solutions Latest Updated 2024
- Course
- Institution
Adjusterpro 5- Other Coverages Questions And Answers With Verified Solutions Latest Updated 2024
[Show more]
Content preview
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
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 classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
84669 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now