Texas All-Lines Adjusting Study Guide Questions And Correct Answers

Liberalization {Ans: is a condition that states that the insurer can add or broaden coverage at anytime without writing up a new contract.}Fraud {Ans: act of deceiving and insurance company in order to collect more money than one is legally entitled to}Preponderance of Evidence {Ans: enough evidence to make it more likely that an argument is true than it is false}Reservation of Rights {Ans: a notification that an insurer might give to an insured informing him that a reported loss might not be covered under his insurance policy}BAP (Business Auto Policy) {Ans: provides property damage and liability insurance for auto used by business.}HO-2 Form {Ans: the basic or cheap form of homeowners insurance}