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Posted by Barb Gavitt, CDEI, ITP, SILA-F ● May 16, 2016

What Can I Do with a Property & Casualty Insurance License?


What can I do with a P&C insurance license?

An insurance license is required for individuals to transact, or solicit and sell, property and casualty insurance and related products. By obtaining a P&C insurance license, an individual becomes authorized by a state to discuss a variety of policies that will provide peace of mind for your clients and their families during a time of hardship.

What types of policies can I sell with my P&C insurance license?

The Property and Casualty license will allow agents to sell both personal and commercial lines insurance.

Homeowners insurance is designed to provide property and liability protection that arises out of residential principal property ownership and occupancy. This insurance also provides protection for some loss exposures of property and liability of the insured and family members while away from their residence

Dwelling insurance is designed to provide property protection only for personally-owned residential dwellings that are not eligible for homeowners insurance. This may be a seasonal residence or a rental home, but is not the insured’s primary residence. Dwelling insurance does not provide liability coverage.

Personal Auto insurance provides mainly liability protection for losses that result from the non-business uses of certain types of motor vehicles. This includes liability for bodily injury and property damage to others. Property damage to the insured’s vehicle and medical expenses can also be included coverages.

Miscellaneous Personal insurance can also be provided for:

  • Personal property, such as jewelry, fine arts, cameras, and musical instruments
  • Personal watercraft, such as boats and yachts
  • Personal umbrella liability insurance to increase and supplement homeowners and personal auto liability coverage
  • Flood insurance under the National Flood Insurance Program

Commercial Property insurance provides coverage for business-related property that is not residential. This includes coverage for the building and contents with specific coverages that cover buildings under construction and loss of business income due to a covered loss.

Commercial General Liability insurance protects a business from legal liability exposures that occur either on the premises, are due to the business operations, are caused by a product, are due to the completed work of a business, or arise from a legal contract.

Commercial Auto insurance is mainly designed to provide liability protection due to the ownership or use of business-related autos, businesses engaged in the sale, service, parking, or storage of automobiles, businesses engaged in service and repair of automobiles, truckers, and motor carriers. Physical damage to the insured’s autos is also provided.

Businessowners Coverage insurance combines the coverages offered under the commercial property, liability, and automobile insurance but is customized for smaller eligible businesses with specific insurance needs.

Workers’ Compensation insurance is protection required by most state laws that an employer must provide to protect eligible employees from injuries that arise from and are related to the injured workers job duties. Benefits include medical expenses, lost wages due to a disability, rehabilitation expenses, and death and survivor benefits.

Miscellaneous Commercial insurance can also be provided for:

  • Commercial crime for losses due to robbery, burglary, or theft
  • Bonds that guarantee performance or honesty
  • Commercial inland and ocean marine insurance protecting business property that is moveable or being transported (imports and exports), transportation and communication instruments, motor carrier and ocean vessel liability and cargo coverage
  • Professional liability insurance such as medical malpractice
  • Commercial Umbrella Liability insurance to provide additional liability protection and supplement existing coverage
  • Farm property and liability insurance
  • Aviation insurance for aircraft hull and liability

To become licensed, you will need to demonstrate minimal knowledge of these products, as well as general insurance and contract concepts, terminology, covered perils, the policy structure, conditions, exclusions, additional coverages, applicable endorsements, and policy limits.  Additionally, there are state specific topics you will need to know. All A.D. Banker learning solutions will deliver the content needed to successfully complete the education requirements for licensing. Now is the time to become a property & casualty agent!

Topics: Personal Lines, Prelicensing, Property & Casualty, Insurance

Get your Property & Casualty Insurance License in less than 2 weeks.