Colorado Property Insurance| Questions with 100% correct answers | verified

The legal process that gives the insureer, after payment of a loss, the right to seek recovery from a third party that was responsible for the loss is known as - subrogation What type of liability would a person who owns a swimming pool have? - Absolute Which of the following is NOT an element of negligence? -unbroken chain -libel -duty -breach - libel Which of the following coverages in dwelling and homeowners policies is for indirect losses? - Lose of use A policy condition that stipulates how the amount of damaged or lost property will be determined if the insured and the principal do not agree is known as - Appraisal The transfer of an insured's right to seek damages from a negligent party to the insurer is found in which of the following clauses - subrogation A property insurance policy that is not subject to any coinsurance requirements but has scheduled for the property would use what loss valuation method - stated amount In case of a loss, the indemnity provision in insurance policies... - restores an insured person to the same financial state as before the loss An insured owns a building that is valued at $400,000. To comply with 80% coinsurance provision of his insurance policy, how much should he insure his property for? - 80% of the property's replacement cost or moreWhat insurance policy provision defines how the policy will respond if there is more than one insurance policy written on the same risk - other i