Amounts Payable: Property Insurance

Click here to return the main Foundations of Risk Management and Insurance Suite information page.

Level: Intermediate

Why you need this course:
After completing this course, you'll be able to analyze a policy to determine the available coverage and the process for evaluating losses and amounts payable.

Upon successful completion of this course, you should be able to:

  • Explain why insurance to value is important to the insured and to the insurer in property insurance, what problems are associated with maintaining insurance to value, and what can be done to minimize these problems.
  • Given a case, apply valuation methods, policy limits, deductibles, and coinsurance or insurance-to-value provisions, separately or in combination, to determine the amount payable. In support of this objective:
    • Describe the valuation approaches used in property insurance policies.
    • Explain the reasons for policy limits.
    • Analyze the following types of policy limits used in property insurance: individual property limits, specific limits, blanket limits, sublimits, variable limits, and nondollar limits.
    • Explain why deductibles are applied, how various types of deductibles are applied, and why some policies contain no deductibles.
    • Analyze the purpose and function of coinsurance, insurance-to-value policy provisions, and alternatives to coinsurance.
    • Apply the coinsurance formula.
  • Explain how appraisal provisions aid in resolving disputed claims.
  • Explain how subrogation and salvage provisions can help keep premiums reasonable.

Cost: $20 per Professional Development Hour (PDH). Information on Professional Development Hours (PDH) provided can be found here.

Amounts Payable: Property Insurance Topics Include:

  • Insurance to value
  • Applying valuation methods, policy limits, deductibles, and coinsurance or insurance-to-value provisions, separately or in combination, to determine the amount payable
  • Valuation approaches used in property insurance policies
  • Reasons for policy limits
  • Policy limits used in property insurance, such as individual property limits, specific limits, blanket limits, sublimits, variable limits, and nondollar limits
  • Deductibles
  • The purpose of coinsurance, insurance-to-value policy provisions, and alternatives to coinsurance
  • The coinsurance formula
  • How appraisal provisions aid in resolving disputed claims
  • How subrogation and salvage provisions can affect premiums

Phone: (800) 644-2101 (U.S. and Canada)
(610) 644-2100 (Outside the U.S. and Canada)
Fax: (610) 640-9576
Mail: The Institutes
720 Providence Road
Suite 100
Malvern, PA 19355-3433
Customer Success is available Monday through Friday, 8 a.m. to 6 p.m. eastern time.

For retail ordering information, contact Customer Service or shop online. Or take a look at our full catalog.

E-mail: CustomerSuccess@TheInstitutes.org
Phone: (800) 644-2101

Customer Service hours are Monday through Friday, 8:00 a.m. to 6:00 p.m. eastern time.

Interested in corporate licensing information, volume discounts, or learning management system (LMS) compatibility? Contact the Institutes’ Regional Sales Executive in your area.


Quick Links