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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.
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| Depreciation is |
The value of a property that is lost over time due to factors such as age, wear and tear.
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| Actual Cash Value (ACV) |
The value of the damaged or destroyed at the time of loss.
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| Power of Attorney |
Is authorized when a person is still alive.
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| Client Specific Thresholds |
$10,000 - Bank of America (BOA). $20,000 - USDA 40,000- Everyone else
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| 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.
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| 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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