Unoccupancy - Study guides, Class notes & Summaries

Texas Property and Casualty practice exam questions And Answers All Verified Coverage for water backup or sump pump overflow is excluded from the Dwelling Policy. However, with the purchase of the water backup and sump pump overflow endorsement, coverage for up to $5,000 in loss or damage can be provided for an additional premium. What is the deductible associated with this coverage? - ANS $250 Coverage for up to $5,000 in loss or damage, subject to a $250 deductible, can be provided f...

state farm property and casualty exam questions with correct answers salvage - Answer--salvage is when an insurance company pays a claim, and then the insurance company has the right to assume ownership of the damaged property to repair it and sell it to recover part or all of the loss -salvage value is the amount for which the insurance is able to sell the damaged property and the amount of loss the insurance company is able to recover abandonment clause - Answer-provides that no proper...

Insurance Adjuster Exam Questions and Answers Rated A+ Which kind of losses are covered under a standard fire policy? - Answer ️️ -Direct All fires are not covered by the Standard Fire policies, only those that: - Answer ️️ -are hostile and have a flame or glow At what time does a fire policy go into affect? - Answer ️️ -12:01am standard time at the location of the insured's property A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000...

INSURANCE ADJUSTER EXAM 2024 ACTUAL QUESTIONS AND VERIFIED CORRECT ANSWERS ALREADY PASSED GRADED A++ Which kind of losses are covered under a standard fire policy? Direct All fires are not covered by the Standard Fire policies, only those that: are hostile and have a flame or glow At what time does a fire policy go into affect? 12:01am standard time at the location of the insured's property A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000 w...

Which kind of losses are covered under a standard fire policy? Direct All fires are not covered by the Standard Fire policies, only those that: are hostile and have a flame or glow Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More At what time does a fire policy go into affect? 12:01am standard time at the location of the insured's property A property is insured under two Standard Fire policies ...

Other structures are excluded from coverage under the HO-3 when they are: Smaller than 100 square feet or larger than 1,000 square feet Smaller than 100 square feet or larger than 500 square feet Used for storage purposes Used for business purposes - CORRECT ANSWER Used for business purposes is correct. EXPLANATION: When the other structures are used for business purposes they are not covered under the homeowner form. This structure and its contents could be covered under a comme...

Coverage for water backup or sump pump overflow is excluded from the Dwelling Policy. However, with the purchase of the water backup and sump pump overflow endorsement, coverage for up to $5,000 in loss or damage can be provided for an additional premium. What is the deductible associated with this coverage? CORRECT ANSWER $250 Coverage for up to $5,000 in loss or damage, subject to a $250 deductible, can be provided for an additional premium with this endorsement. An insured relocated to ...

Insurance Adjuster Exam Questions And Answers Which kind of losses are covered under a standard fire policy? - ANS Direct All fires are not covered by the Standard Fire policies, only those that: - ANS are hostile and have a flame or glow At what time does a fire policy go into affect? - ANS 12:01am standard time at the location of the insured's property A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000 worth of damage. What is ...

CA ADJUSTERS LICENSE PSI 2024 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED Other structures are excluded from coverage under the HO-3 when they are: Smaller than 100 square feet or larger than 1,000 square feet Smaller than 100 square feet or larger than 500 square feet Used for storage purposes Used for business purposes - CORRECT ANSWER Used for business purposes is correct. EXPLANATION: When the other structures are used for business purposes they are not covered...

Insured that faces a liability loss expected? - Provide prompt notification Promptly forward to the insurer any loss notice, demand, summons, or other legal process. Assist the insurer in making a settlement. Attend the trial or other proceedings, if requested. Provide witnesses information Assume no obligation and make no payments directly to claimants Do not admit to the claim Policy Limits - The maximum amount an insured may collect, or for which an insured is protected under the te...