West Virginia Adjusters Practice Exam

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Study for the West Virginia Adjusters Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

Practice this question and more.

Private dwellings are eligible for up to _______ in coverage under the FAIR Plan.

$100,000
$200,000
$300,000
$400,000

The correct answer is: $100,000

The correct coverage limit for private dwellings under the FAIR Plan is typically set at $200,000. This program provides a safety net for homeowners who face challenges obtaining coverage through traditional insurance markets, specifically targeting high-risk properties. The FAIR Plan aims to ensure that individuals can secure necessary insurance protection for their homes, even if they reside in areas considered more prone to natural disasters or other risks. Understanding the coverage limits of the FAIR Plan is crucial for adjusters and homeowners alike, as it helps to set realistic expectations when it comes to protecting their largest asset—their home—especially in states like West Virginia where certain properties may struggle to find coverage through standard insurers.