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A property and casualty license allows you to practice numerous insurance opportunities, making yours a fruitful career. After attaining a property and casualty license, an agent or broker has the licensure to negotiate property and casualty coverages. These coverages vary from household damage to automobile damage.
However, although property and casualty licenses are different, it is highly recommended to obtain both because both licenses work complementary to one another.
Tap Into A Vast Market
The household and automobile insurance markets are immense in their stature. Upon successfully getting your license, you will be able to practice as an:
- Insurance Adjuster: Through investigating the incident of damage on a property, you will be tasked to make a report that explains details of said events.
- Insurance Investigator: They are tasked with verifying claimants’ files to check whether they adhered to company policies or not.
- Insurance Underwriter; they are consultants, having an advisory role. They assess situations that entail risk and assist in regulatory documents.
How Much Do They Make
Property and casualty insurance producers make a handsome annual salary. On average, they make around $30,000 to $44,500, annually. Top earners can make a $50,000+ annual earning figure as well.
Roles and Responsibilities
A broker or agent’s responsibilities are crucial because they are tasked with winning a favorable outcome for their client.
Firstly, the right policy is to be selected by an insurance agent. This policy should be accurate in representing your client’s case.
Next, you will also have an advisory role. You will have to weigh up all the pros and cons of a policy and assist your client in choosing the best policy through your thorough analysis.
Finally, you might be required to do a lot of fieldwork in the form of investigating and inspecting the damaged property.
How to Give the Exam
The exam consists of a lengthy range of topics, hence you will be required to study each rightfully. These topics include:
- Homeowners damage
There are several others. These are just a few important ones.
Enroll in a Course (optional)
Every state has different requirements and procedures for conducting the exam. Some will require you to have a pre-licensure course credit.
However, even if your state does not require you to do so, we highly advise you to enroll. You will have more practice, a better idea of the exam, and further clarity.
Register and Give the Test
Look up your state’s respective exam vendor online, then follow the steps outlined on their website to apply.
Fulfill all requirements, such as documents, payments, et cetera. This will take up to 40 hours, on average.
Finally, after you have completed all requirements, sit through the exam with confidence.
Apply for Property and Casualty License
After passing your exam, you will be eligible to apply for a property and casualty license.