A Hard Day's Night of (P&C) Insurance

12-hours of Personal Property & Casualty Insurance + Flood, and Ethics

$24.00 + your state filing fee
12 Credit Hours

This course favors P&C insurance agents but is applied as general credit for all agents. It fulfills the ethics and flood requirements.

COURSE DIFFICULTY

INTERMEDIATE
This course covers the following topics:
  • Various types of personal property and casualty insurance such as:
    • A discussion on the most commonly purchased insurance policy on the market today: the insurance policy as well as a discussion on mobile home insurance.
    • An examination and comparison of the three fire policies available to homeowners, and a discussion of flood risk and why flood insurance is so important.
    • A look at personal auto insurance as well as personal umbrella insurance
  • A discussion on ethics to help insurance agents best serve their clients

Summary

This course is designed to walk you through the various types of personal property and casualty insurance. It begins with a discussion on the most commonly purchased insurance policy on the market today: the homeowners’ insurance policy. These chapters will use a case study family to discuss the various insurance policies available to homeowners and the particular situations that arise for them during the course of their activities on the insured premises. Next, the course will discuss mobile home insurance, which has some similarities to traditional homeowners insurance, but also has several distinct characteristics, since mobile homes and manufactured homes present unique challenges from an insurance perspective. These chapters will discuss the specific coverages and exclusions for these types of homeowners. Regardless of the type of home an owner has, it can still suffer from the effects of a fire. The fire insurance chapters will discuss and compare the three fire policies available to homeowners, to aid in the understanding of the coverages provided through a dwelling fire policy, its use in lieu of a homeowners policy, and the differences between the three types of dwelling fire policies. Many homeowners don’t see the need for flood insurance and worry that it will be too expensive. If a major event does occur, they assume disaster assistance or another government program will help repair or replace their flood-damaged property. Unfortunately, these consumers are uneducated about the risk of flood and are potentially setting themselves up for a very costly loss down the road. The flood insurance chapter will discuss flood risk and why insuring it is so important. The next portion of the course shifts focus to personal auto insurance, which covers private passenger vehicles and provides protection against economic loss to an insured from bodily injury or property damage to others (liability) arising from the operation, maintenance or use of a covered automobile. These chapters will provide insurance agents who sell personal auto insurance the knowledge of the underwriting process that is expected of them as “field underwriters.” Estimates show thousands of people are sued for more than $2,000,000 per year due to losses related to their homes, businesses and automobiles. For this reason, a personal umbrella policy can be an invaluable addition to a client’s insurance portfolio. Personal umbrella insurance is a type of liability coverage that protects the assets and income of a policy owner beyond the limits set on a primary automobile, homeowners or watercraft insurance policy. These chapters will wrap up the insurance portion of the course. The final section of this course on personal property and casualty insurance is a section on ethical practices for insurance agents. While ethics remains a fairly fluid concept, it is of utmost importance to spend time considering it. Insurance agents face difficult ethical questions every day. Finishing the course with a discussion on ethics will help insurance agents best serve their clients.

Outline

1. Homeowners Insurance: Homeowners Insurance Basics

  • 1.1 Introduction
  • 1.2 Why Homeowners Insurance?
  • 1.3 A Case Study Family
  • 1.4 Types of Homeowners Policy Forms
  • 1.5 Summary
  • Affidavit of Personal Responsibility
  • Chapter 1 Quiz
  • Purpose of the Course

2. Homeowners Insurance: Harry and Jane’s Special Form Homeowners Policy, an Overview

  • 2.1 The Declaration Page
  • 2.2 Property Coverages: Dwelling
  • 2.3 Property Coverages: Other Structures
  • 2.4 Property Coverages: Personal Property
  • 2.5 Special Limits of Liability
  • 2.6 Property Not Covered
  • 2.7 Loss of Use
  • 2.8 Additional Coverage
  • 2.9 Summary
  • Chapter 2 Quiz

3. Homeowners Insurance: Harry and Jane’s Homeowners Policy, Perils Insured Against

  • 3.1 What are Perils?
  • 3.2 Perils for Coverage A and Coverage B
  • 3.3 Perils for Coverage C
  • 3.4 Summary
  • Chapter 3 Quiz

4. Homeowners Insurance: Harry and Jane’s Homeowners Policy, Liability Coverages

  • 4.1 Coverage E: Personal Liability
  • 4.2 Coverage F: Medical Payments to Others
  • 4.3 Additional Coverages for Section II
  • 4.4 Summary
  • Chapter 4 Quiz

5. Mobile Home Insurance: Mobile Home Insurance Basics

  • 5.1 Introduction
  • 5.2 Property Coverage
  • 5.3 Property Not Covered
  • 5.4 Coverages Provided
  • 5.5 Property Exclusions
  • 5.6 Summary
  • Chapter 5 Quiz

6. Mobile Home Insurance: Variations on the Mobile Home Policy

  • 6.1 Occupied Mobile Home Insurance
  • 6.2 Named Perils Mobile Home Coverage
  • 6.3 Named Perils Adjacent Structures Coverage
  • 6.4 Named Perils Contents Coverage
  • 6.5 Extension of Contents Coverage
  • 6.6 Collision Coverage
  • 6.7 Additional Coverages
  • 6.8 Exclusions on Named Perils Coverage
  • 6.9 Summary
  • Chapter 6 Quiz

7. Mobile Home Insurance: Optional Coverages

  • 7.1 Endorsements to the Mobile Home Policy
  • 7.2 Summary
  • Chapter 7 Quiz

8. Fire Insurance: Fire Insurance Policies

  • 8.1 Overview
  • 8.2 What is the Dwelling Fire Policy?
  • 8.3 Summary
  • Chapter 8 Quiz

9. Fire Insurance: Coverage Parts

  • 9.1 Coverages
  • 9.2 Other Coverages
  • 9.3 Exclusions
  • 9.4 Conditions
  • 9.5 Summary
  • Chapter 9 Quiz

10. Fire Insurance: Perils Insured Against

  • 10.1 Buildings, Structures and Contents
  • 10.2 Other Coverages
  • 10.3 Conditions
  • 10.4 Exclusions
  • 10.5 Summary
  • Chapter 10 Quiz

11. Fire Insurance: Endorsements

  • 11.1 Coverage Forms
  • 11.2 Cancellation Endorsements
  • 11.3 Deductible Endorsements
  • 11.4 Miscellaneous Endorsements
  • 11.5 Liability Endorsements
  • 11.6 Summary
  • Chapter 11 Quiz

12. Flood Insurance: Introduction to Flood Insurance

  • 12.1 Why Flood Insurance?
  • 12.2 Facts About Floods
  • 12.3 Federal Disaster Assistance
  • 12.4 Summary
  • Chapter 12 Quiz

13. Flood Insurance: The National Flood Insurance Program (NFIP)

  • 13.1 Overview
  • 13.2 History
  • 13.3 The Beginnings of Private-Sector Flood Insurance
  • 13.4 Definitions
  • 13.5 Information for Buyers
  • 13.6 Summary
  • Chapter 13 Quiz

14. Flood Insurance: Understanding the Risks

  • 14.1 Available Flood Insurance
  • 14.2 Preferred Risk Policy
  • 14.3 Limitations and Covered Losses
  • 14.4 Basement Coverage
  • 14.5 Other Covered Losses
  • 14.6 Deductibles
  • 14.7 Covered Preventive Measures
  • 14.8 Filing a Flood Insurance Claim
  • 14.9 Summary
  • Chapter 14 Quiz

15. Flood Insurance: Flood Hazard Policy Forms

  • 15.1 Types of Flood Hazard Policies
  • 15.2 Agreement and Definitions
  • 15.3 The Coverages
  • 15.4 Exclusions
  • 15.5 Insured’s Responsibilities
  • 15.6 Policy Guidance for Closed Basin Lakes
  • 15.7 Summary
  • Chapter 15 Quiz

16. Auto Insurance: Auto Insurance Basics

  • 16.1 Introduction
  • 16.2 Evaluating Risks
  • 16.3 Summary
  • Chapter 16 Quiz

17. Auto Insurance: Personal Auto Application

  • 17.1 Applicant’s Name and Address
  • 17.2 Policy Period
  • 17.3 Residence
  • 17.4 Garage Location
  • 17.5 Vehicle Description/Use
  • 17.6 Summary
  • Chapter 17 Quiz

18. Auto Insurance: Coverage and Premiums

  • 18.1 Single Limit Liability
  • 18.10 Actual Cash Value
  • 18.11 Towing and Labor Coverage
  • 18.12?Transportation Expenses
  • 18.13 Summary
  • 18.2 Bodily Injury Liability
  • 18.3 Property Damage Liability
  • 18.4 Personal Injury Protection
  • 18.5 Additional Personal Injury Protection
  • 18.6 Uninsured Motorists Coverage
  • 18.7 Underinsured Motorists Coverage
  • 18.8 Comprehensive Coverage
  • 18.9 Collision Coverage
  • Chapter 18 Quiz

19. Auto Insurance: Additional Coverage/Endorsements?

  • 19.1 Additional Coverage and Endorsements
  • 19.10 Binder and Signature
  • 19.11 Summary
  • 19.2 Resident and Driver Information
  • 19.3 Accidents and Convictions
  • 19.4 Additional Interest
  • 19.5 Employment Information
  • 19.6 Prior Coverage
  • 19.7 General Information
  • 19.8 Remarks
  • 19.9 Attachments
  • Chapter 19 Quiz

20. Umbrella Insurance: Adding On - Umbrella Insurance

  • 20.1 Introduction
  • 20.2 Umbrella Insurance Versus Excess Insurance
  • 20.3 Who Needs A Personal Umbrella Policy?
  • 20.4 Summary
  • Chapter 20 Quiz

21. Umbrella Insurance: Umbrella Insurance and the Law

  • 21.1 Overview
  • 21.2 Two Categories of the Law
  • 21.3 Two Types of Civil Law
  • 21.4 Torts
  • 21.5 Types of Negligence
  • 21.6 Liability Insurance
  • 21.7 What an Umbrella Insurance Policy Provides
  • 21.8 Common Coverage Amounts
  • 21.9 Summary
  • Chapter 21 Quiz

22. Umbrella Insurance: Personal Injury

  • 22.1 Personal Injury Defined
  • 22.2 Defense, Settlement, and Court Costs
  • 22.3 Summary
  • Chapter 22 Quiz

23. Ethical Practices: Why Ethics Matter

  • 23.1 Overview
  • 23.2 Values of Ethics
  • 23.3 Components of an Ethical System
  • 23.4 Ethics and Success
  • 23.5 Purpose of a Code of Ethics
  • 23.6 Ethics in the Workplace Statistics
  • 23.7 Hallmarks of an Ethical Culture
  • 23.8 Summary
  • Chapter 23 Quiz

24. Ethical Practices: Understanding Legal Requirements

  • 24.1 Overview
  • 24.2 Legal Regulations
  • 24.3 Unfair Trade Practices
  • 24.4 Six Principles of Insurance
  • 24.5 The Importance of an Agency Relationship
  • 24.6 Mandatory Licensing and Education Training
  • 24.7 Legal Sanctions for Transgressions
  • 24.8 Summary
  • Chapter 24 Quiz

25. Ethical Practices: Internal Benefits - For Employees and the Company

  • 25.1 Overview
  • 25.2 Code of Ethics vs. Code of Conduct
  • 25.3 Prevents Discrimination and Harassment
  • 25.4 Mitigates Employee Conflicts
  • 25.5 Structures Pay and Promotions
  • 25.6 Serves as Point of Reference for Corrective Action
  • 25.7 Demonstrates Corporate Responsibility
  • 25.8 The Fiduciary Relationship Between Agents, Companies and Clients
  • 25.9 Summary
  • Chapter 25 Quiz

FAQ

Q: What should I expect from this online course?

A: We use a unique system to help you learn the material easily. Our online courses present you with information in large type that is easy to read. We highlight key items in gray and quiz you after each chapter to make sure you are learning critical information. You may review the material as much as you want before taking your required online, multiple-choice exam. Passing the exam proves your proficiency in that subject to your state’s governing authority.

Q: Can I print my online course materials and test questions?

A: According to the state authority, it is not permissible to print or download any course material or exam questions. However, you are free to access all online courses from our website anytime.

Q: How long does it take to complete an online course?

A: The time required to complete an online course varies from student to student, but it roughly approximates the number of credit hours awarded for the course. You must pass an online, multiple-choice exam. Passing the exam proves your proficiency in that subject to your state’s governing authority.

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