Virginia Property And Casualty Insurance Study Guide Graded A+

When would a building be covered if it was damaged by the weight of snow, ice or sleet? {Ans: If it covered by Broad Form (02) DP-002 ???}What are the ways rates are determined? {Ans: 1. Payroll 2. Gross Sales 3. Value of Property}What type of Hazard takes place if the replacement value is written for more than the purchase price of a home? {Ans: Moral Hazard}What is an example of a residence employee? {Ans: a nanny or housekeeper that lives on the premises}What rating is used when a particular risk has no other risk with like characteristics? {Ans: Scheduled Rating}What 7 coverage's does the Broad Form (02) expand to include? {Ans: 1. Aircraft 2. Riot or Civil Commotion 3. Smoke 4. Vandalism & Malicious Mischief 5. Vehicles 6. Volcanic Eruption 7. Windstorm or Hail}