NY Insaurance Licensing
Terms in this set (219)
Damaged to covered property Covered in the DP-2 and DP-3 only
caused by glass breakage
Coverage B on a Dwelling Other structures
policy covers
What are some items not Animals, grave markers, etc
covered under coverage C
(Personal property)?
Fire department service $1000
charge coverage pays up
to__?
Dwelling policies will cover True
contents of the structure?
True or false?
Worldwide coverage provides 10%
__% of coverage C limit for
personal property on Dwelling
Policy
What is the __% of coverage C 50%
limit for personal property on
Dwelling Policy
Other Structures provides up to Coverage A
,10% of coverage __ limit
Pays for the reasonable costs to make repairs to protect
Reasonable repairs
property from further damage after a covered loss
Vandalism to a building that 60
has been vacant for more than
__ consecutive days is not
covered on a dwelling
policy
The basic form excludes all of Fire
the following except?
Loss settlement condition Actual cash value (ACV), but not to exceed amount to repair or replace
states that covered property
losses are valued at?
, The weight of ice, snow and Fences and awnings
sleet peril DOES NOT include
damage to?
Trees, shrubs, and other 5% and $500
plants coverage pays up to __
% of the coverage A limit but
not more than $__
Had divided by what should have had x amount of the
Coinsurance formula
loss(partial loss) = loss payment(indemnity)
To figure the coinsurance 80%, .8 and .80
penalty, you must start with
finding __% of the VALUE of the
property
Coverage B on a dwelling Other structures
policy covers
Vicarious liabilty The transfer of negligence from one party to another
Tort Law 3 degrees of liability Full liability, Partial liability, and no liability
Defenses for a negligence claim Assumption of risk, contributory negligence, and comparative
negligence
Defense in which the insurer refuses to pay anything if the
Contributory Negligence
CLMNT was even partially liable for the loss
Types of liability policy limits Single limits, split limits and aggregate limits
Establishes one maximum payout for liability damages
Single limits
caused by the policyholders. Limit applies for each
occurrence.
Split limit liability Establishes three different limits on how much the policy will pay out
Aggregate Limit liability Typically found in commercial liability policies. Establishes two liability
Terms in this set (219)
Damaged to covered property Covered in the DP-2 and DP-3 only
caused by glass breakage
Coverage B on a Dwelling Other structures
policy covers
What are some items not Animals, grave markers, etc
covered under coverage C
(Personal property)?
Fire department service $1000
charge coverage pays up
to__?
Dwelling policies will cover True
contents of the structure?
True or false?
Worldwide coverage provides 10%
__% of coverage C limit for
personal property on Dwelling
Policy
What is the __% of coverage C 50%
limit for personal property on
Dwelling Policy
Other Structures provides up to Coverage A
,10% of coverage __ limit
Pays for the reasonable costs to make repairs to protect
Reasonable repairs
property from further damage after a covered loss
Vandalism to a building that 60
has been vacant for more than
__ consecutive days is not
covered on a dwelling
policy
The basic form excludes all of Fire
the following except?
Loss settlement condition Actual cash value (ACV), but not to exceed amount to repair or replace
states that covered property
losses are valued at?
, The weight of ice, snow and Fences and awnings
sleet peril DOES NOT include
damage to?
Trees, shrubs, and other 5% and $500
plants coverage pays up to __
% of the coverage A limit but
not more than $__
Had divided by what should have had x amount of the
Coinsurance formula
loss(partial loss) = loss payment(indemnity)
To figure the coinsurance 80%, .8 and .80
penalty, you must start with
finding __% of the VALUE of the
property
Coverage B on a dwelling Other structures
policy covers
Vicarious liabilty The transfer of negligence from one party to another
Tort Law 3 degrees of liability Full liability, Partial liability, and no liability
Defenses for a negligence claim Assumption of risk, contributory negligence, and comparative
negligence
Defense in which the insurer refuses to pay anything if the
Contributory Negligence
CLMNT was even partially liable for the loss
Types of liability policy limits Single limits, split limits and aggregate limits
Establishes one maximum payout for liability damages
Single limits
caused by the policyholders. Limit applies for each
occurrence.
Split limit liability Establishes three different limits on how much the policy will pay out
Aggregate Limit liability Typically found in commercial liability policies. Establishes two liability
