Insurance Notes
Twisting
A form of misrepresentation in which an agent persuades an insured/owner to cancel, lapse, or switch policies, even when it's to the insured's disadvantage.
Personal Property
Section 1 of a homeowners policy would cover?
45 days
The longest period of time the homeowners policy will extend coverage for personal property
Declarations
This part of an insurance policy contains basic underwriting information such as insured's name, address, amount of coverage and premiums. ( The Who, What, Where and How Much.
A. A family member in the same household
Under a Personal Auto Policy coverage, damages to a vehicle may be covered if the person driving the insured vehicle is... a. A person using an insured vehicle without permission b. An individual who uses the vehicle as public or livery services. c. A family member in the same household. d. An individual causing intentional damage to a vehicle
Part A: Liability Coverage Part B: Medical Payments Coverage Part C: Uninsured Motorist Coverage Part D: Coverage for Damage to your Auto Part E: Duties After an Accident or Loss Part F: General Provisions
What are the different parts of a personal auto policy (PAP)?
$1,000
Homeowners will only pay up to this amount in Loss Assessment such as Homeowners Association Changes or Request
20 days
How many days does an insured have to select a competent and disinterested appraiser after receiving a written request from the insurer requesting that a property claim dispute be settled through the appraisal process?
60 days
How many days does the insurer have to settle with the insured on a loss?
C. The payment of premiums and representations made in the applications.
In insurance contracts, consideration on the part of the insured is A. The submission of proof of loss. B. Transferring policy rights to another person. C. The payment of premiums and representations made in the applications. D. Warranties made in the application.
Blanket Insurance
Insurance policy that covers multiple classes of property at a single location
