Personal Lines exam topics

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• Personal Auto Policy TerritoryA standard personal auto policy commonly covers insured vehicles and people in the United States, its territories and possessions, Puerto Rico, and Ca…
• Auto Liability Defense Costs and Supplementary PaymentsA personal auto liability insurer commonly has a duty to defend an insured against a covered suit and may pay specified supplementary items, such as c…
• Insurance Policy Conditions ExplainedPolicy conditions are requirements that govern how coverage operates, such as paying premium, reporting changes, giving notice of loss, protecting pro…
• Named Insured vs. Additional InsuredA named insured is identified in the policy’s declarations or named-insured provision. An additional insured receives insured status through policy wo…
• Umbrella Drop-Down Coverage“Drop-down” describes an umbrella policy responding below an expected underlying policy layer in some circumstances, often because the underlying insu…
• Elements of an Insurance ContractA valid contract generally requires an offer, acceptance, consideration, competent parties, and a legal purpose. The Texas Personal Lines outline test…
• Excess Liability Follow-Form vs. Broader Umbrella CoverageFollow-form excess coverage generally adopts much of the underlying policy’s coverage terms and adds limits above it, subject to its own changes and e…
• Mortgagee vs. Loss Payee in Property InsuranceA mortgagee is a lender with a secured interest in real property, while a loss payee is a party named to receive covered property-loss proceeds for an…
• Sources of Insurance Underwriting InformationInsurers evaluate applications using information such as applicant statements, property inspections, vehicle and driving records, prior claims, credit…
• Appraisal vs. Coverage Dispute in a Property ClaimAppraisal is designed to resolve a disagreement about the amount of a covered property loss, not whether the policy covers the event or a damaged item…