GA Personal Lines Insurance Terms with Complete Solutions 2026

GA Personal Lines Insurance Terms with Complete Solutions Abandonment - Correct Answer The abdication of insured property into the hands of another or into the possession of no one in particular Accident - Correct Answer A sudden unplanned and unexpected event not under the control of the insured resulting in injury or damage that is neither expected or intended Actual Cash Value - Correct Answer The replacement cost of lost or damaged property minus depreciation Additional coverage - Correct Answer A provision in an insurance policy that provides additional amounts of coverage for a specific loss expense at no additional premium Additional Insureds - Correct Answer Individuals or business that are not named as insureds on the declaration page but are protected by the policy usually in regard to a specific interest Adhesion - Correct Answer A contract which is offered on a take it or leave it basis. The insured's only option is to either accept or reject the contract; he/she has no input concerning its terms Admitted Insurer - Correct Answer An insurance company that has qualified and received a certificate of authority from the department of insurance to transact insurance in the state Adverse Selection - Correct Answer The insuring of risks that are of a poorer class (more prone to losses) than the average risk Agent - Correct Answer A person who acts on the behalf of the insurer to sell, negotiate, or effect insurance contracts; also known as a producer