If You Have Two Insurance Policies on the Same Property

question 24

Multiple Choice

If you have two insurance policies on the same property, the _____ explains how the two insurance companies will share the loss.

• A) co-insurance clause
• B) personal property floater (PPF)
• C) right of subrogation
• D) other-insurance clause
• E) principle of indemnity

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Definitions:

Wealth

the abundance of valuable resources or material possessions, or the control over such assets.

Risk And Change

Pertains to the inherent dangers and modifications that can occur in any business or personal scenario, impacting outcomes and strategies.

Values

Core beliefs or standards that guide behavior and decision-making processes in individuals or organizations.

Evaluating Information

The process of critically assessing the validity, relevance, and reliability of data or facts.