NC Claims Adjuster Exam Study Already Passed

NC Claims Adjuster Exam Study Already Passed Liability Insurance PAP (Part A) - Answer ️️ -Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP - Answer ️️ -A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) - Answer ️️ -A document that proves the existence of insurance coverage Occurrence - Answer ️️ -Something that continue to happen and may cause injury later on. Accident - Answer ️️ -A sudden unforseen and unintended one time event Assumption of risk - Answer ️️ -An individual who is aware of the potential risk involved and chose to expose themselves to it. Comparative negligence - Answer ️️ -Measures the amount of negligence contributed to each party. The injured party will not cover damages equal to the percentage of negligence they contribute. Contributory Negligence - Answer ️️ -If an insured party contributed to their injury in anyway due to their own negligence, we will not pay anything. What state is a contributory state? - Answer ️️ -North Carolina Negligence - Answer ️️ -Failure to do (or not do) what a reasonable prudent person would or would not have done in a similar instance. Temporary Substitute Automobile - Answer ️️ -Not owned by the named insured but used temporarily as a substitute for the owned auto that is not currently being used. What is an example of a Temporary substitute Automobile? - Answer ️️ -A dealership loans an insured a vehicle to drive while their car is getting fixed. Non Owned Automobile - Answer ️️ -Not owned by the named insured or any relative. What is an example of an Non Owned Automobile? - Answer ️️ -An insured borrows a neighbors car. If an additional vehicle is not reported to the insurer within 30 days: - Answer ️️ -No coverage will apply to the added vehicle. If a vehicle is added to an existing policy (In addition to): - Answer ️️ -It will have the broadest coverage if insured within 30 days of becoming the owner. If a replacement vehicle is not reported within 30 days: - Answer ️️ -Part D (Comprehensive and Collision Coverage) will not apply to the replacement vehicle. A new vehicle that replaces another vehicle will: - Answer ️️ -Have the same coverages as the old vehicle if the named insured request to insure it within 30 days of becoming the owners. Insured - Answer ️️ -Any blood relative by marriage, adoption, wards, foster children, living in the same home, including children away at college. Also, any person using someones car with their permission. Named insured - Answer ️️ -Listed on the declarations page. Included a spouse wether they are named in the policy or not, provided they live in the same home. 1st Coverage for watercraft or yacht are: - Answer ️️ -Hull insurance for damage to the insured boat itself 2nd Coverage for watercraft or yacht are: - Answer ️️ -Protection and indemnity liability coverage for BI and PD exposures for damage to other people or other peoples boats. What doesn't watercraft or yacht coverage provide? - Answer ️️ -Coverage for boats used for hire, charger, or for transporting people for a fee. How many days removal coverage is provided on the National Flood Insurance Program? - Answer ️️ -45 days Elevation certificates - Answer ️️ -Required on dwellings that are written in the regular program in certain flood zones in order to properly r