The national guide covers the core property and casualty concepts:

• perils and hazards;
• actual cash value and replacement cost;
• coinsurance, binders and subrogation.

Idaho's state questions here focus on Idaho's insurance definitions, the standard fire policy law (Idaho Code 41-2401), insurable interest, binders and comparative negligence.

National concepts in brief

• Actual cash value is replacement cost minus depreciation.
• Indemnity restores the insured to where they were before the loss, with no profit.
• Subrogation lets the insurer recover from the party at fault.

Idaho definitions

• Property insurance includes consequential loss. It excludes noncontractual legal liability, which is casualty (Idaho Code 41-504).
• Marine and transportation insurance (Idaho Code 41-505) includes:
  • personal property floaters;
  • jewelry and precious stones, whether or not in transit;
  • bridges, tunnels and other instrumentalities of transportation.
• Casualty insurance (Idaho Code 41-506) includes:
  • liability;
  • workers' compensation;
  • burglary and theft;
  • boiler and machinery;
  • personal property floaters;
  • malpractice.

Insurable interest, binders and policies

• Insurable interest in property must exist at the time of the loss. It is measured by how much the insured would be directly damaged by the loss (Idaho Code 41-1806).
• Binders (Idaho Code 41-1823):
  • They may be oral or written.
  • They include the policy's usual terms.
  • A binder lasts no longer than the issuance of the policy or the policy's expiration, whichever comes first.
• Policy contents: every policy names the parties, the subject, the risks, the period, the premium and the conditions (Idaho Code 41-1815).
• Delivery: the policy is delivered within a reasonable time (Idaho Code 41-1824).
• Renewals may be done by certificate or endorsement (Idaho Code 41-1825).
• Claim handling isn't a waiver: acknowledging a claim, furnishing forms or investigating it doesn't waive the insurer's defenses (Idaho Code 41-1832). The insurer must furnish proof-of-loss forms on request (Idaho Code 41-1831).
• Fire loss reports: fire losses of $1,000 or more, and those involving death or injury, are reported within seven days after settlement (Idaho Code 41-258).

The standard fire policy (Idaho Code 41-2401)

• The form: Idaho uses the New York standard fire policy as revised in 1943. Multi-peril policies may differ if they give at least equal fire coverage.
• Not required for: vehicle, marine, inland marine or growing crop insurance.
• Effective time: policies become effective at 12:01 a.m. standard time where the property is located.
• Mortgagee provisions must be included without change.
• Optional exclusions:
  • A nuclear exclusion is allowed.
  • A terrorism exclusion is allowed only on commercial policies.
• Cancellation notice (the rule changes on January 1, 2027):

Rates and credit

• Rate standards: rates may not be excessive, inadequate or unfairly discriminatory (Idaho Code 41-1405).
  • A rate is excessive only if it is unreasonably high and there is no reasonable competition.
  • Idaho's rating law favors competition. The director doesn't set rate levels (Idaho Code 41-1402).
• Credit in personal lines (Idaho Code 41-1843):
  • Insurers may not raise premiums, cancel, nonrenew or decline based primarily on credit.
  • "Based primarily" means credit is weighted more than all other factors combined.
  • Credit records are kept five years (IDAPA 18.02.01).

Comparative negligence

• Under Idaho Code 6-801, a plaintiff recovers only if their negligence is not as great as the defendant's. Equal fault bars recovery. Otherwise damages are reduced by the plaintiff's share.
• Joint and several liability is limited to parties acting in concert (Idaho Code 6-803).

Common exam traps

• Idaho's fire policy takes effect at 12:01 a.m., not noon.
• A 50/50 split bars recovery in Idaho.
• Fire cancellation notice is 30 days until 2027, then 60 days.
• Workers' compensation and malpractice are casualty classes in Idaho.