State Farm Property Questions & 100% Correct Answers
9 views 0 purchase
Course
State Farm Auto
Institution
State Farm Auto
In property insurance actual cash value is defined as which of the following
~~> Replacement cost at the time of the loss, less depreciation
Peril is most easily defined as
~~> the cause of loss insured against
What is a leading factor in the determination of actual cash value
~~&g...
What is the purpose of the coinsurance clause found in property insurance
policies?
✓ ~~> Encourage the insured to insure the property closer to its full
value
An insured has a liability policy that sets the amount at 50k for all claims that
arise from a single incident. which type of limit of liability does this insured's
policy have?
✓ ~~> per occurrence
When the amount of insurance written in a property policy is not subject to
any coinsurance provision and that amount is paid in the event of a covered
loss, the coverage is said to be written as
✓ ~~> stated amount
What is stated amount coverage
✓ ~~> In stated amt coverage the value of the insured property is
determined at the time the policy is written.
Master01 | September, 2024/2025 | Latest update
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 ExamArsenal. 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.
