Property/Casualty Insurance

Table of Contents

Introduction			6
Insurance			7
Underwriting Risk			7
Auto Insurance			11
Insuring a New Vehicle			14
Classic Cars			15
Delivery Drivers			16
RV Insurance			16
Motorcycle Insurance			17
Mechanical Breakdown Insurance (MBI)			18
Foreign Travel			19
Pay-as-You-Go Policies			19
Safe Drivers Pay Less for Insurance			20
Distracted Driving			22
Teenage Drivers			24
Affordable Coverage			27
Reading the Auto Policy			33
Conditions in an Auto Policy			34
Auto Liability Insurance			37
Property Damage Liability Insurance			38
Medical Auto Insurance			39
Person Injury Protection (PIP)			39
Collision			40
Comprehensive Coverage			40
Auto Insurance for School-Sanctioned Events			41
Uninsured and Under-Insured Motorists Coverage			41
Driving Uninsured: No Pay, No Play Laws			42
Towing & Service for Rental Care Reimbursement			43
Wage Loss & Substitute Services Coverage			43
Determining Auto Insurance Rates			43
When an Auto Accident Occurs			45
No-Fault Insurance			46
Homeowner Insurance			48
As a Recap			50
Homeowner’s Basic Form			52
Homeowner’s Broad Form			52
Homeowner’s Comprehensive Form			52
Section I of Form #1 (HO-1)			52
Section II of Form #1			53
Form #2 (HO-2)			53
Form #3 (HO-3)			54
Form #4 (HO-4) Renter’s Insurance			56
College Student Renter’s Insurance			57
Renter’s Insurance for Businesses			58
Form #5 (HO-5)			58
Form #6 (HO-6)			58
Form #8 (HO-8)			59
Homeowner Exceptions			59
Natural Disasters			61
Flood Coverage			61
Flood Course Material from FEMA Section I			62
		Acronyms You Should Know	63
		NFIP Background	64
		Federal Emergency Management Agency (FEMA)	66
		Community Participation	67
		Emergency Program	68
		Regular Program	69
		Community Rating System	69
		Building Eligibility	70
		Coastal Barrier Resources System and Other Protected Areas	70
		For CBRS Areas	71
		For OPAs	71
		Who Needs Flood Insurance?	72
		Mandatory Purchase of Flood Insurance in High Flood Risk Zones	72
		Recommended in Moderate and Low Flood Risk Zones	73
		Flood Insurance:  Better than Disaster Assistance	73
Flood Maps and Zone Determinations; Section II			73
Flood Hazard Boundary Map (FHBM)			74
		The “100-Year Flood” That Isn’t	74
		Flood Insurance Rate Map (FIRM)	74
		Pre-FIRM / Post FIRM Defined	75
		Chart: Agent’s Premium Calculation Pad	80
		Special Flood Hazard Area Defined	81
		Base Flood Elevation (BFE)	81
		Zone Determination	82
Policies and Products Available; Section III			82
		Dwelling Policy – Types of Buildings Covered	83
		General Property Policy – Types of Buildings Covered	83
		Residential Condominium Building Association (RCBAP) - Types	83
		Preferred Risk Policy – Types of Buildings Covered	84
		Definitions	84
		Damages Not Covered	85
		Flood Insurance is a Single Peril Policy	85
		Mudslides Versus Mudflows	85
		Property Covered	85
		Basements	85
		Appurtenant Structures	86
		Loss Avoidance Measures (Are You Ready?)	87
		Debris Removal	88
		Improvements and Betterments	88
		Property Not Covered	89
		Increased Cost of Compliance Coverage (ICC)	90
		Chart: Premiums for $20,000 ICC Coverage	90
General Rules; Section IV			91
		Statutory Coverage Limits (with chart)	91
		National Flood Insurance Program Deductibles	92
		Charts	92
		Property Value Determination for Selecting Coverage Amounts	93
		Loss Settlement: Actual Cash Value (ACV)	93
		Replacement Cost Value (RCV)	94
		Co-Insurance Penalty in RCBAP	95
		Reduction and Reformation of Coverage	95
		Waiting Period / Effective Date of Policy	95
		Policy Term	96
		Cancellations	96
Rating: Section V			96
		To complete a flood rating: steps	97
		Chart: Pre-FIRM construction annual rate table	98
		Elevated Buildings	100
		Buildings With Basements	100
		When to Use an Elevation Certificate	101
		Grandfathering	101
Claims Handling Process; Section VI			102
		Helping Your Client File a Claim	102
		Appeals Process	104
		Claims Handbook	106
Requirements of the Flood Insurance Reform Act of 2004: Section VII			106
		Mitigating Repetitive Loss Properties	107
		Educating Policyholders	108
		Write Your Own Companies and the NFIP Work Together	109
		National Flood Insurance Reform Act of 1994	110
		Flood Disaster Protection Act of 1973	111
		National Flood Insurance Act of 1968	111
Agent Resources; Section VIII			111
		Write Your Own (WYO) Program	111
		FEMA and Related Websites	112
		Volcanoes	112
		Hurricanes & Tornadoes	113
		Personal Property in the Homeowner Policy	113
	Umbrella Insurance		115
	Liability Insurance		116
	Homeowner & Auto Premium Rates		118
	Insurance Units		118
	The Insurance Policy Layout		119
	Negligence Laws		120
	Loss-Adjustment Provisions		121
	Notice of Loss		121
	Processing a Claim		121

This concludes your course.

United Insurance Educators, Inc.

Eatonville, WA. 98328-8638

Email: mail@uiece.com

(253) 846-1155