Term
| declarations, insuring agreement, conditions, and exclusions |
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Definition
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Term
| named insured, policy limits, and premium and policy period |
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Definition
| the declarations lists the _ |
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Term
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Definition
| describes the coverage provided |
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Definition
| lists the obligations of both parties; insured and insurer |
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Definition
| lists the perils that are not covered |
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Term
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Definition
| dwelling property policies do not cover breakage of glass after _ |
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Term
| declarations page of the policy |
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Definition
| the limits of liability are found on the _ page of the policy |
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Term
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Definition
| the cancellation provisions are found in the _ section of the policy |
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Term
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Definition
| to have replacement cost coverage on a dwelling broad form policy DP-2, the dwelling must be insured at least _ of replacement cost not _ |
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Term
| personal injury liability |
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Definition
| does not cover bodily injury; it covers defamation, libel, and slander |
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Term
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Definition
| on an HO policy, an accident that results in bodily injury or property damage is defined as an_ |
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Term
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Definition
| the most an HO policy will pay under the liability section is known as _ |
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Term
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Definition
| on dwelling fire and HO policies, the required coinsurance percentage is _ |
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Term
| residents of your household who are relative, or any other person under age 21 that is in your care |
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Definition
| the definition of an insured under an HO includes _ |
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Term
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Definition
| the insurer has the right to sue the negligent third party for damages paid to you under the concept of _ |
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Term
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Definition
| four parts of a legal contract can be remembered with the acronym_ |
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Term
| first premium paid, the answers to the questions on the application and the applicant's signature |
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Definition
| consideration consists of what 3 things |
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Term
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Definition
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Term
| in the amount owed on the loan |
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Definition
| if the lender is not sent notice of cancellation, the fire insurance policy lapses, and then the property burns down, the lender (mortgagee) has protection in the _ |
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Term
| appraiser, appraiser, and an umpire |
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Definition
| the parties involved in an appraisal are the ___ |
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Term
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Definition
| an assignment is never valid unless agreed to by the _ |
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Term
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Definition
| a person must be at minimum age 18 to enter into a _ |
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Term
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Definition
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Term
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Definition
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Term
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Definition
| is something you promise is there today and will be there tomorrow. burglar alarm. sprinkler system. |
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Term
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Definition
| requires that a customer be given out a privacy notice at the time the customer relationship is initially established and thereafter annually. |
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Term
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Definition
| the failure to disclose a material fact is called _ and if discovered will void a policy |
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Term
| terrorism risk insurance act TRIA |
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Definition
| applies to commercial policies only |
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Term
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Definition
| the insurer has the right to enhance coverages at any time, so long as they do not charge the client more for the enhancements, under the concept of _ |
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Term
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Definition
| a _ is owned by the stockholders |
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Term
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Definition
| is owned by the policyholders |
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Term
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Definition
| the right to salvage belongs to _ |
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Term
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Definition
| the insured does not have to disclose all facts, just _ |
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Term
| fair credit reporting act |
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Definition
| requires the insurer to give the insured pre-notification prior to pulling an applicant's credit report |
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Term
| consumer reporting agency |
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Definition
| if an applicant is denied coverage due in part to their credit report, the applicant must be told which _ was used |
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