Claims Adjuster Practice Questions and Correct
Answers
Multi Peril-Package
Any policy which provides property & liability coverage (not homeowner)
ISO policy
Sold in Texas, but not Texas form
Only Texas DP 1
Mainly the only TDP sold, now with plethora of endorsements
Texas Standard Fire Policy
Granddaddy of all Texas property policies
Business auto coverage e.g.
Owner of a taxi to cover collision damage
Inland Marine (build milk policy) would cover e.g.
3k gallons of milk in tanker truck
Texas Standard, Standard Fire & Business Owner
Would all cover damage to something like a gift card shop fire
Tx Personal Auto Policy e.g.
Owner of family far, for potential injury to other people
Trucker's policy
, Trucking company, for potential damage to other people's trailers which the trucking
company may be pulling
Actual Cash Value (ACV)
Replacement cost less depreciation
Garage Liability e.g.
For valet parking service to have appropriate liability coverage it needs what kind of policy?
Flood, workers comp, crop, costal wind among others
Types of casualty claims I will be unable to handle under license I'm studying for
Ocean Marine Hull coverage
Would have to be written for an insured to cover potential collision damage to insured's ship
Covered (if it's not written)
It's safe to assume that if something is not excluded in writing it's appropriate to assume that
the loss is?
15/15/5 rule
15 calendar days to send notice you received claim
15 business days to resolve case
5 days to pay claim (if applicable)
Options for High Risk Drivers?
Texas started TAIPA
Risk pool
Answers
Multi Peril-Package
Any policy which provides property & liability coverage (not homeowner)
ISO policy
Sold in Texas, but not Texas form
Only Texas DP 1
Mainly the only TDP sold, now with plethora of endorsements
Texas Standard Fire Policy
Granddaddy of all Texas property policies
Business auto coverage e.g.
Owner of a taxi to cover collision damage
Inland Marine (build milk policy) would cover e.g.
3k gallons of milk in tanker truck
Texas Standard, Standard Fire & Business Owner
Would all cover damage to something like a gift card shop fire
Tx Personal Auto Policy e.g.
Owner of family far, for potential injury to other people
Trucker's policy
, Trucking company, for potential damage to other people's trailers which the trucking
company may be pulling
Actual Cash Value (ACV)
Replacement cost less depreciation
Garage Liability e.g.
For valet parking service to have appropriate liability coverage it needs what kind of policy?
Flood, workers comp, crop, costal wind among others
Types of casualty claims I will be unable to handle under license I'm studying for
Ocean Marine Hull coverage
Would have to be written for an insured to cover potential collision damage to insured's ship
Covered (if it's not written)
It's safe to assume that if something is not excluded in writing it's appropriate to assume that
the loss is?
15/15/5 rule
15 calendar days to send notice you received claim
15 business days to resolve case
5 days to pay claim (if applicable)
Options for High Risk Drivers?
Texas started TAIPA
Risk pool
