Cơ bản về bảo hiểm tài sảnCâu 282 / 531
An inflation guard provision attached to a property policy:
a.Waives the coinsurance clause at renewal
b.Increases the limit through the policy term
c.Pays extra when materials cost more to buy
d.Indexes the deductible to building costs
Giải thích
An inflation guard raises the amount of insurance automatically during the term, so limits keep pace with construction costs and the insured stays near the amount coinsurance requires. It moves the limit only, leaving the deductible and the coinsurance condition alone. It also adds no money at claim time: whatever the limit has grown to on the day of loss is still the ceiling on what the insurer will pay.
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Câu hỏi liên quan cùng chủ đề
- An agreed value provision on a commercial property policy works by:
- A policy with a $900,000 agreed value limit insures a building whose replacement cost has climbed to $1,050,000 by the time a $300,000 covered loss occurs. The deductible is $10,000. The insurer pays:
- Property written on a stated amount basis is settled at a covered total loss by paying:
- In property underwriting, a building is described as vacant rather than unoccupied when:
- A mortgagee named under the mortgage clause of a property policy holds rights that are:
- After a fire claim, either party invokes the appraisal clause. What will the appraisal decide?
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