Florida Insurance Claims Adjuster License Practice Exam

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Prepare for the Florida Insurance Claims Adjuster Test. Access multiple choice questions, flashcards, and detailed explanations to enhance your knowledge and confidence. Start mastering the material today!

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What is the deductible for a Personal Articles Floater (PAF)?

$250
$100
$500
$0

The correct answer is: $0

The deductible for a Personal Articles Floater insurance policy is typically $0. This is because this type of insurance covers valuable items such as jewelry, fine art, or collectibles, which may be difficult to replace or repair. Having a $0 deductible means that in the event of a covered loss, the policyholder will not have to pay anything out of pocket before the insurance company will reimburse them for the loss. It is important to note that while a $0 deductible may seem like a great option, it often comes with a higher premium cost. This is because the insurance company is taking on more risk by not having the policyholder contribute to the cost of a covered loss. Options A, B, and C all have specified deductible amounts, which would require the policyholder to pay that amount out of pocket before the insurance company would cover the rest of the loss. This is