How To Get Your Insurance License: Loss Valuation - Replacement and Actual Cash Value, Agreed Value

Are you studying for your insurance license. This video explains the concepts of Loss Valuation: Replacement Value, Actual Cash Value, & Agreed Value as well as Direct vs Indirect Loss. These concepts apply to Property and Casualty insurance licensing. Understanding these concepts could help you pass your state insurance licensing test so you can sell insurance. This will help you get your license!

00:00 Intro
01:20 Real Property VS Personal Property
03:55 Direct Loss VS Indirect Loss
04:35 Loss Valuation
05:09 Replacement Cost
07:36 Functional Replacement Cost
08:11 Actual Cash Value
09:25 Stated Amount
09:56 Agreed Value
11:08 Practice Question
12:15 Wrap Up and Thank You

Cause of Loss Forms

[yanibelleza]

Lol that’s a good way to put it!!! Shaking your house and the things that fall out is personal property 🤭