Before an insurer agrees to cover a home, it needs facts about the home and the person applying. Those facts come from the application (the form of questions the applicant answers) and, sometimes, from outside reports. The insurer uses them for underwriting: deciding whether to accept the risk and on what terms.
About 27 minutes
Not marked read
No lesson quiz available yet
Full lesson available
Recommended first: Contract formation and the policy map. Suggestions, not required steps.
Open lesson →When something covered by a property policy is damaged or stolen, both sides have work to do. The insured (the person the policy protects) has duties after loss: tasks the policy requires them to do so the claim can move forward. The insurer (the insurance company) has its own steps: working out the amount with the insured, deciding whether to repair instead of paying cash, and paying when the policy says payment is due.
About 16 minutes
Not marked read
No lesson quiz available yet
Full lesson available
Recommended first: Contract formation and the policy map, Who and what is covered—and what changes it. Suggestions, not required steps.
Open lesson →After a covered loss, three practical questions can remain open:
About 20 minutes
Not marked read
No lesson quiz available yet
Full lesson available
Recommended first: After a loss: notice, protection, proof and insurer response. Suggestions, not required steps.
Open lesson →A property policy protects a person only for a certain period of time, under certain conditions, and in certain places. This lesson covers three questions you will often ask when you read a policy or a loss scenario:
About 20 minutes
Not marked read
No lesson quiz available yet
Full lesson available
Recommended first: Contract formation and the policy map, After a loss: notice, protection, proof and insurer response. Suggestions, not required steps.
Open lesson →A business buys commercial property insurance. A violent attack damages its building. Two separate questions follow:
About 20 minutes
Not marked read
No lesson quiz available yet
Full lesson available
Recommended first: Commercial property: build the package, classify the loss, Contract formation and the policy map. Suggestions, not required steps.
Open lesson →