TX Property & Casualty study guide
TX Property & Casualty · Work through your exam, one topic at a time.
The Texas Property & Casualty agent license - often called the Texas General Lines Property & Casualty license - is the credential a person needs to sell, solicit, and negotiate property and casualty insurance products in Texas. It is issued and regulated by the Texas Department of Insurance, which also licenses adjusters, handles agent and adjuster applications and renewals, and publishes consumer guidance on home, auto, and health coverage. The TX Property & Casualty study guide has 4 sections and about 1,304 words.
01Texas Insurance Laws, Rules, and Regulations
Texas insurance is governed by the Texas Insurance Code and Title 28 of the Texas Administrative Code, administered by the Texas Department of Insurance (TDI). The Commissioner of Insurance is appointed by the Governor , not elected, and serves a two-year term.
341 words, about 2 min02General Insurance Concepts and Principles
Risk is uncertainty concerning loss; a peril is the cause of loss (fire, wind, collision); a hazard increases the chance that a peril will occur or worsen the loss. Physical hazards are tangible (oily rags, icy steps), moral hazards involve dishonesty (arson for profit), and morale hazards involve carelessness (leaving a building unlocked).
324 words, about 2 min03Property Insurance Coverages and Policy Provisions
A homeowners policy has six coverages: A dwelling, B other structures, C personal property, D loss of use, E personal liability, and F medical payments to others. HO-3 insures the dwelling on an open-perils (special) basis and personal property for named perils; HO-5 is open perils on both; HO-4 renters and HO-6 condo unit-owners cover contents and improvements.
338 words, about 2 min04Casualty Insurance Coverages and Policy Provisions
The Texas Personal Auto Policy is arranged in parts: A liability, B medical payments or PIP, C uninsured/underinsured motorist, D damage to your auto, plus duties after an accident. Texas minimum liability limits are 30/60/25 - 30,000 per person, 60,000 per accident, 25,000 property damage.
301 words, about 2 min