Louisiana Insurance Adjuster Questions and Answers 100% Correct
Louisiana Insurance Adjuster Questions and Answers 100% CorrectLouisiana Insurance Adjuster Questions and Answers 100% CorrectLouisiana Insurance Adjuster Questions and Answers 100% CorrectLouisiana Insurance Adjuster Questions and Answers 100% CorrectLouisiana Insurance Adjuster Questions and Answers 100% Correct Lender Interest Provisions - ANSWER-Protects lender interest by allowing the lender certain rights in the policy. Coinsurance Penalty - ANSWER-A property insurance provision that penalizes the insured's loss recovery if the limit of insurance purchased by the insured is not equal to or greater than a specified percentage (commonly 80 percent) of the value of the insured property. Underinsured - ANSWER-A situation resulting from a failure to carry enough coverage on the value of a property, especially when there are coinsurance implications. Coinsurance - ANSWER-A type of insurance in which the insured pays a share of the payment made against a claim. Franchise Deductible - ANSWER-A minimum amount of loss that must be incurred before insurance coverage applies. A franchise deductible differs from an ordinary deductible in that, once it is met, the entire amount of the loss is paid, subject to the
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