Posted on: 18 March 2018
When you decide that you want to get into the business of insurance, whether you want to become a private broker or simply work in an insurance firm, it will be necessary that you take courses in property and casualty insurance and pass an exam. In short, property casualty insurance school gives you the basics of understanding loss and damages to personal property and how it interplays with insurance coverage and limitations. The key to success in your training is partly knowing what to expect. Check out this short list of important facets you will be exposed to when you take property and casualty insurance courses.
Liability Insurance Terms
Liability falls under the umbrella of property and casualty insurance and can apply to all kinds of insurance situations. Therefore, it is extensively covered in your coursework for property and casualty insurance training. During your training of liability insurance terms, you will learn about:
- The different types of liability insurance for customers
- How liability insurance affects automobile policyholders
- What workers' compensation is and how it works
- The differences between different forms of liability losses
Liability insurance is a broad area of insurance in general, so a lot of your time in class will be spent getting familiar with the various areas of the subject from many different angles.
Property insurance covers some form of tangible property that could be lost or damaged in certain events. Primarily, home insurance and auto insurance will be studied in-depth, but there are many different forms of tangible property that may require insurance coverage, such as:
- Recreation vehicles
- Business properties
- Marine vehicles
- Equipment and machinery
- Personal belongings
In addition to learning about the various types of property, you will be taught the different types of threats of loss the different types of property can sustain. For example, you will learn about things like fire and theft, typical losses relative to storms, and other forms of property damage.
Damages Due to Property Loss
Damages are not always physical in form; they can also be less concrete. For example, if a person loses their motor vehicle because of a collision, one of the damages involved could be lost wages. During your training, you will be shown the different ways damages can be involved with insurance claims, from various business damages that cause a loss of profit to personal property damages that cause some form of distress.Share