Cơ bản về bảo hiểm tài sảnCâu 276 / 531
The limit of insurance shown on the declarations for a building tells the insured:
a.The floor beneath which payment cannot fall
b.The most the insurer can be asked to pay
c.The value the insurer places on the building
d.The amount payable for any covered loss
Giải thích
A limit is a ceiling and not a promise: the insurer pays the loss as the valuation clause measures it, up to that figure and no further. An insured who reads the limit as the amount payable for any covered loss expects a full-limit check for a broken window. Nor is the limit the insurer's opinion of value; choosing an adequate limit is the insured's job, which is the behavior the coinsurance clause polices.
Luyện miễn phí toàn bộ 531 câu hỏi — không cần đăng ký.
Own the complete California Property & Casualty Broker-Agent guide — PDF + EPUB, $24.99 →
Câu hỏi liên quan cùng chủ đề
- Lightning strikes a building, the fire it starts is put out with water, and the water ruins stock in the basement. Under proximate cause reasoning, the water damage is:
- Two policies with no special other-insurance wording cover the same building, one for $300,000 and one for $200,000. A covered $80,000 loss occurs. On a pro rata basis, the $200,000 policy pays:
- Which of these parties holds an insurable interest in a commercial building?
- A distributor keeps stock in three warehouses and the amounts shift between them week to week. Blanket insurance suits this better than specific insurance because:
- A blanket limit of $900,000 covers two buildings reported at $700,000 and $500,000 on the statement of values, under an 80 percent coinsurance clause with no deductible. A $250,000 covered fire loss strikes the smaller building. The insurer pays:
- An agreed value provision on a commercial property policy works by:
Cập nhật gần nhất: · quy trình kiểm tra
Đội ngũ PrepPass · Đối chiếu với California Property & Casualty Insurance License Exam · Quy trình kiểm tra