RMI3011 Notes Exam 2 Chapter 7 know the 6 basic parts of the insurance contract Declarations definition insuring agreement exclusions conditions misc Memorize the big perils fire storm wind etc Understand how the different coverages work To schedule means to have the cost of a specific item appraised and have that specific item on your insurance for the expense appraised for What is loss assessment coverage Endorsements can be added to the policy to meet individual needs o Inflation guard earthquake coverage replacement cost scheduled personal property o 6 parts liability medical payments uninsured motorists coverage coverage for etc Know the factors that affect the cost of insurance o Location quality of construction rebuilding costs contents What is covered under a personal auto policy damage duties after a loss general provisions Always remember insurance follows the car not who is using it Financial responsibility law o What happens in Florida when you get DUI prices go way up What are some coverages to know for a new car
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