Additional Flashcards
Functional Replacement
Example: Replacing plaster walls with shertrock in an old house
Economic loss
Total estimated loss to person or business due to a loss
Morale
Indiffernce
Endorsement
Original policy has been changed
Amount of coverages
Dec page
Do policies cover slander
no
Risk Management
Identify, evaluate, selection
insurable interest” must exist at what time
time of loss
Time for Lawsuit in SFP
3 yr
SFP does not cover wind damage
SFP does not cover wind damage
Failure to pay premium cancellation days:
10
Standard Fire Policy, as originally written, had how many lines
165
Occupancy in the Dwelling Forms
a. The Dwelling policy will allow up to four families in a single dwelling (incorrect)
b. The Dwelling policy will allow four apartments in single dwelling
c. The Dwelling policy will allow up to five roomers or boarders in a single dwelling
Personal Auto Policy is referred to as a _______ policy
per occurrence
Personal Auto Policy (PAP) may be used to insure an auto if the lease is for at least ________.
6 continuous month
Reasons for cancellation of the PAP (in North Carolina) may be for
nonpayment of premiums
named insured becomes a nonresident of North Carolina
Producer who wrote the business is terminated for any reason other than the quality of the insured’s written
Part D of the Personal Auto Policy (Damage to You Auto) will NOT cover
Loss due to electrical breakdown.
The Personal Auto Policy (PAP) will pay up to $____ a day for loss of earnings by the insured because of attendance at hearings or trials
200
Without a deduction for depreciation
Replacement cost
Adjusters Loss Reports contain all of the following items
a. Policy Inception date
b. Policy Expiration date
d. Policy Deductible
Emergency first aid coverage
200
$$$ Special Damages $$$
$$$ Special Damages $$$
Continual rental
6 mns
Homeowners grave markers, etc.
5k
No limit on FIRE damage to GUNS
No limit on FIRE damage to GUNS
Additions are AUTOMATICALLY covered
Additions are AUTOMATICALLY covered
Personal Injury
slander, defamation of character, etc. NOT BODILY INJURY
