South Carolina Adjuster test Questions & Answers 100% Correct

Insured that faces a liability loss expected? - ANSWER-Provide prompt notification Promptly forward to the insurer any loss notice, demand, summons, or other legal process. Assist the insurer in making a settlement. Attend the trial or other proceedings, if requested. Provide witnesses information Assume no obligation and make no payments directly to claimants Do not admit to the claim Policy Limits - ANSWER-The maximum amount an insured may collect, or for which an insured is protected under the terms of the policy. Salvage - ANSWER-Damaged property, If an insurer pays for a Total loss to covered property, the insurer has the right to recover, sell, or dispose of the property. Appraisal Condition - ANSWER-In a situation where the amount of loss is in a disagreement the insurer and insured will both obtain an appraiser and the appraisers will obtain an umpire. Claim Settlement Options for Property - ANSWER-The limits of liability under the policy Amount of money of insured repair ing or replacing the property Replace the damaged property with like kind and quality The amount actually spent to repair the damaged property Claim Settlement Options for liability - ANSWER-The insurer will investigate the claim Pay as necessary Pay defense costs, and attorney fees regardless of the outcome Vacancy or Unoccupancy - ANSWER-A vacant building contains no people and no furniture or other personal property