ABEN - The Basics of Property Values and Coinsurance Conditions (134347)

3 Hours CE

Member $84 / Non-member $120

Instructor: Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS

Replacement cost ain’t always replacement cost. Yes, I know that is poor English – but the point is, replacement cost isn’t as simple as new stuff for old junk. There are many caveats and limitations to full replacement cost (if there is such a thing). Key concepts that must be understood when property valuation is discussed include: actual cash value (ACV); the broad evidence rule; and indemnification.

But what happens if the property limits are too low? Property policies contain a Coinsurance Condition requiring the insured to carry a certain minimum amount of coverage to enjoy full coverage on partial losses. If the insured does not have the requisite limits, they could be penalized.

*Per Texas Insurance Department regulations, you may not duplicate a course and receive credit within the same licensing period.  Please refer to the course title and number and to your CE transcript at www.sircon.com to verify you are not duplicating a course.