Exam (elaborations)
Florida Personal Lines Frequent Tested Questions And CORRECT Answers
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Abandonment Clause A clause often contained in property insurance policies stating that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value Accident A sudden fortuitous event Actual Cash Value (ACV) The cost to replace an item of property at the time of loss, less an allowance for depreciation. Often used to determine amount of reimbursement for a loss (ACV=Replacement cost - depreciation) Aggregate Limit A type of policy limit found in liability policies which limits coverage to a specified total amount for all losses occurring within the policy period
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Institution
Florida Personal Lines
Course
Florida Personal Lines
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Written for
- Institution
- Florida Personal Lines
- Course
- Florida Personal Lines
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- Uploaded on
- March 5, 2024
- Number of pages
- 13
- Written in
- 2023/2024
- Type
- Exam (elaborations)
- Contains
- Questions & answers
Subjects
- florida personal lines
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florida personal lines frequent tested questions
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