KS Public Adjuster Practice Questions - Kansas Public Adjuster Exam

What is a 'valued policy' versus an 'indemnity policy' in commercial property insurance?

There is no difference A valued policy pays a predetermined amount in the event of a total loss, while an indemnity policy pays the actual amount of the loss up to policy limits A valued policy costs less than an indemnity policy An indemnity policy never pays full replacement cost

Correct Answer:

A valued policy pays a predetermined amount in the event of a total loss, while an indemnity policy pays the actual amount of the loss up to policy limits

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