LD Flash cards

Created by aw319

Instructions: Each row makes one card. Cut along the double lines and fold along the single lines. Then glue or tape the sides together.

A deductible is
The amount the insured is responsible for in case of a loss.
Depreciation is
The value of a property that is lost over time due to factors such as age, wear and tear.
Actual Cash Value (ACV)
The value of the damaged or destroyed at the time of loss.
Power of Attorney
Is authorized when a person is still alive.
Client Specific Thresholds
$10,000 - Bank of America (BOA). $20,000 - USDA 40,000- Everyone else
Monitored Process
We must review the repair work done on your property at different stages before releasing all the claim funds to you. Monitored claims are done for claim check amounts above client-specific thresholds.
Endorsement Process
Will simply endorse and release the claim check back to you once we receive and review the claim documentation you send us. This is done where the insurance company issues smaller amounts of money for damages. The endorsement process can take 6-8 bu days

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