Policy Structure & ProvisionsPregunta 468 de 474
Under the loss payment condition, the insurer adjusts a covered loss with, and pays:
a.The mortgagee alone on any property loss
b.The named insured, unless another is named
c.The contractor who repaired the property
d.Any resident of the household who claims
Explicación
The insurer adjusts losses with the named insured and pays the named insured unless some other person is named in the policy, such as a mortgagee or loss payee, or is legally entitled to receive payment. A repair contractor has no claim against the policy and must look to the insured, and a household resident is not automatically the payee even where that person is an insured for coverage purposes.
Practica las 474 preguntas gratis — sin registro.
Own the complete Personal Lines Insurance Producer guide — PDF + EPUB, $19.99 →
Preguntas relacionadas de este tema
- The suit against us condition provides that an insured may sue the insurer only after:
- After a covered loss, the policy's option to repair or replace allows the insurer to:
- A dry cleaner ruins a customer's coat. Under the no benefit to bailee condition, the cleaner:
- Two policies cover the same $30,000 loss, one with a $200,000 limit and one with a $100,000 limit. Under the other insurance condition, the larger policy pays:
- A contractor's negligence floods the insured's kitchen, and the insured signs a paper releasing the contractor. The insurer may then:
- A dwelling fire is traced to arson by the owner. Under the mortgage clause, the mortgagee shown on the declarations:
Última revisión: · proceso editorial
Equipo de PrepPass · Verificado con California Personal Lines Insurance License Exam · Cómo revisamos