P&C Insurance Vocabulary You NEED to Know to Pass the Exam!
P&C Insurance Exam Study Guide: • P&C Insurance Exam Study Guide (COMPREHENS...
Studying for your P&C Insurance Exam? Understanding key vocabulary is essential to passing! This video breaks down every major vocabulary category you need to understand—from absolute insurance basics to advanced commercial and specialty coverage terms.
This video is designed to help P&C insurance exam students master essential insurance vocabulary foundations, including how coverage and valuation work, how negligence, bodily injury (BI), and property damage (PD) are evaluated, and how common policies like homeowners, auto, umbrella, CGL, BOP, and workers’ comp are structured. It also explains theft, employee dishonesty, and bonds, along with mobile property and other special coverage topics such as flood, earthquake, and equipment breakdown. Viewers will gain a clear understanding of how P&C policies are built, insurance regulation, market oversight, licensing and state rules, and insurance company types, including stock vs mutual insurers and overall compliance—all key areas heavily tested on the P&C insurance exam.
Disclaimer:
You may notice that some insurance terms appear more than once in this video. That’s intentional. In insurance, the same word can have different meanings depending on the policy, coverage type, or context. See the video chapter for specific context and use of words.
Key Topics:
Actual Cash Value (ACV)
Replacement Cost
Open Peril vs Named Peril
Deductible
Binder
Insurable Interest
Indemnity
Coinsurance
Concurrent Causation
Blanket vs Scheduled Coverage
Negligence
Bodily Injury vs Property Damage
Products-Completed Operations
Business Income (Business Interruption)
Extra Expense
Uninsured Motorist (UM)
Underinsured Motorist (UIM)
Dwelling Coverage (Coverage A)
Endorsement
Subrogation
0:00:00 - Core Insurance Basics
0:47:39 - Property Insurance Fundamentals
1:50:58 - Casualty & Liability Insurance Fundamentals
2:46:10 - Personal Lines Insurance
3:35:22 - Commercial Lines Insurance
4:39:08 - Crime & Fidelity Coverage
5:11:07 - Inland Marine & Floaters
5:37:46 - Specialty P&C Coverages
6:22:47 - Policy Structure & Contract Law
6:51:39 - State Regulation & Market Oversight
7:11:07 - Insurer Structures & Compliance
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