State Farm Property Questions and complete Answers

State Farm Property Questions and complete Answers In property insurance actual cash value is defined as which of the following Peril is most easily defined as What is a leading factor in the determination of actual cash value Replacement cost is defined as Property insurance that provides 100k coverage for a building and 50k coverage for personal property at a single location is called Which of the following is used in the formula for calculating the actual cash value of a property What is the purpose of the coinsurance clause found in property insurance policies? An insured has a liability policy that sets the amount at 50k for all claims that arise from a single incident. which type of limit of liability does this insured's policy have? When the amount of insurance written in a property policy is not subject to any coinsurance provision and that amount is paid in the event of a covered loss, the coverage is said to be written as What is stated amount coverage What type of liability would a person who owns a swimming pool have? What is absolute liability Insurable interest in the property covered in a policy must be proven Which of the following is NOT an element of negligence breach, unbroken chain, libel, duty what is libel With respect to the business of insurance, a hazard is What are the four essential elements of all legal contracts In forming an insurance contract, when does acceptance usually occur? Who is responsible for filling out a notice of claim form what is a notice of claim If a property is covered by comp a for 20k and comp b covers the same property for 40k, how much will comp a pay on a 24k loss?