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A property and casualty license opens a multitude of practice areas in the field of insurance. Obtaining these licenses enhances your career. To equip yourself with the ability to sell insurance on plentiful crucial aspects of life, such as automobiles and housing, it is imperative that you acquire a property and casualty license.
Although both of these forms of licensing are independent of one another, it is highly recommended to possess qualifications in both. Brokerage firms search for individuals who have a higher skill set, and a diversified brokerage portfolio.
Both of these insurances work together because they are closely related. Property insurance deals with damage to your property, or damage done by you on someone else’s property, making you liable. Casualty insurance covers damage or injuries claims, according to your plan.
You will be able to strengthen your skillset through the provision of selling insurance in several key industries, including:
- Housing and condo insurance; this includes insurance on any type of damaged property in a household, including damage to property in the interior of the household. A condo insurance practice shares the same coverages.
- Rental and landlord insurance; in case of a breach in contract, or unfair financial or social practices, your coverage will be needed to secure these types of financial and social relationships.
- Automobile insurance; a highly in-demand insurance market, automobile insurance includes both accidental and non-accidental damage to an individual’s automobile.
It is your choice; you can either have a diversified practice portfolio, or a specialized one. Some brokers sell a vast array of insurance service types, such as the ones discussed just previously.
However, if you choose to concentrate your services on one type of insurance market, such as automobiles, you will have concentrated expertise.
Requirements to Obtain Property & Casualty Licenses?
Before going on to take the exams, which is a vital requirement, obviously, there are some other broader requirements to be considered.
- The candidate must be at least 18 years old.
- Pre-licensing educational requirements should be complete.
- After completing all relevant requirements, including the exam, you will be required to undergo a background check to check for any criminal activity.
This is the most crucial part, or hurdle, in securing property and casualty licenses.
Your state licensing exam is to be passed by you. This particular licensing exam, of property and casualty, consists of the following topics:
- Personal auto insurance
- Homeowners and dwelling policies
- Property damage
- Personal automobile
These are just a few, relevant subject materials that you will need to study.
Now, we shall discuss the procedure of examination.
Every state has a designated exam vendor. You can apply online by looking up your state’s respective provider.
Complete Requirements and Take the Exam
Your state examination vendor will provide you a list of requirements to be completed before exam day.
Next, pass your exam through solid preparation.
Finally, you will apply for a state license after following your state’s requirements.