Have you ever wondered what events and items might not be covered under your homeowner’s insurance policy? Here are some common exclusions, meaning, they are usually not considered a covered loss and the insurance company will not pay for the … Continue reading →
How are loss settlements determined by insurance companies? Actual Cash Value (ACV) means the cost of repairing the damage, minus reasonable depreciation (wear and tear, deterioration and obsolescence). Replacement Cost (RC) means the current cost, at the time of loss, … Continue reading →
Insurance is designed to transfer the financial impact of a loss from an individual or company to an insurance company. In exchange for the protection (agreement of indemnification) of the insurance company, an insured must pay premiums. Property and Casualty … Continue reading →
A Sneak Peek inside the Property Insurance Course (Part 3):
/in Washington Insurance Exam /by Chris SavageHave you ever wondered what events and items might not be covered under your homeowner’s insurance policy? Here are some common exclusions, meaning, they are usually not considered a covered loss and the insurance company will not pay for the … Continue reading →
A Sneak Peek inside the Property Insurance Course (Part 2):
/in Washington Insurance Exam /by Chris SavageHow are loss settlements determined by insurance companies? Actual Cash Value (ACV) means the cost of repairing the damage, minus reasonable depreciation (wear and tear, deterioration and obsolescence). Replacement Cost (RC) means the current cost, at the time of loss, … Continue reading →
A Sneak Peek inside the Property Insurance Course (Part 1):
/in Washington Insurance Exam /by Chris SavageInsurance is designed to transfer the financial impact of a loss from an individual or company to an insurance company. In exchange for the protection (agreement of indemnification) of the insurance company, an insured must pay premiums. Property and Casualty … Continue reading →