Residential Policy

This 1 week course is part 1 of  the 3 week Property Adjusting course. The best value is to enroll in the full 3 week course.

Designed for:

This course is designed for entry-level and experienced students who must be able to understand and apply policy language from standard Homeowners and Dwelling policies as they relate to investigating and handling property claims.

Key Learning Objective:

The emphasis is on learning how to read and apply the language in the ISO Homeowners (HO3) policy. Throughout the course, coverage application and structural estimating are integrated using workshops and claim scenarios to challenge the students to apply what they learn. Upon successful completion the student will have the skills to analyze and apply property coverages and be able to investigate the cause of loss.

Syllabus:
Insurance Basics
Insurance Principles
Policy Structure
Provisions Common to Property Policies

Contracts
Elements of a Legal Contract
Distinct Characteristics of an Insurance Agreement
Rules for Interpreting policies

Property Coverages
Dwelling and Other Structures
Personal Property
Loss of Use
Additional Coverages
Selected Endorsements

Causes of Loss
Open Peril vs.. Named Perils
Analysis of Specific Perils
Court Cases

Adjusting Losses
Duties After a Loss
Determining Value and Loss
Apportionment of Losses
Resolving Coverage Issues
Negotiation and Settlement
Subrogation/Dispute Resolution

Investigation
Theft/Fraud Indicators
Photos & Diagrams

Projects
Workshops on Coverage
Loss Scenarios
Testing and Evaluation

Reporting
Documentation of Events
Captioned Reports
Statement of Loss Format

Good Faith Claims Handling
Avoiding Bad Faith