Florida Claims Adjuster Exam- A+ Rating.

Severability - Answer- Insurance applies separately to each insured as if other insureds did not exist. Abandonment - Answer- Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value.* Insurable Interest - Answer- One wherein economic loss would be suffered from an adverse happening to the subject. Liberalization - Answer- States that if the insurer adopts a revision which would broaden coverage without additional premium within some period of time prior to the policy period or during the policy period, the insured receives the benefit of such broadened coverage.. Doctrine of Proximate Cause - Answer- States that when there is an unbroken connection between an occurrence and damage that grows out of the occurrence, then the resultant damage is all a part of the occurrence. Actual Cash Value - Answer- The Loss Settlement Valuation that subtracts an allowance for depreciation Warranty - Answer- A policy condition, either based on information in the insured's application or inserted by the insurer Conditional Contract - Answer- The Insurer's responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against further loss, and to give the insurer proof of the loss is defined as? Under Mechanical Breakdown Coverage, *new cars are eligible for service up to:* - Answer- 36 Months/36,000 Miles Used vehicles: 12 Months/12,000 Miles If financial responsibility doesn't exist at the time of an accident, what happens? - Answer- The legally valid claims of others must be satisfied (10/20/10) The owner and operator must provide certification of future responsibility for future accidents As to required proof for future accidents by purchase of auto liability insurance, the insurer must make a filing (Form SR-22) certifying that coverage is in effect, and this certification must remain on file for __________ years - Answer- 3 The Business Automobile Policy includes all of the following coverage forms except: - Answer- The Trailer Interchange Coverage Form Personal Injury Protection, or PIP, has a __________ per person, per accident limit. - Answer- 10,000 Used to insure businesses engaged in selling, servicing, repairing, parking or storing automobiles: - Answer- Garage Coverage Form