Property Insurance Cannot Be Canceled for Nonpayment of Premiums

question 27

True/False

Property insurance cannot be canceled for nonpayment of premiums.

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Definitions:

Sellers

Individuals or entities engaged in providing goods or services to buyers in exchange for payment.

Priority

Priority refers to the state of being earlier in order, time, or importance, often determining the sequence for dealing with multiple items or tasks.

Creditor

An individual or institution to whom money is owed.

Debtor

A person or entity that owes money to another individual or entity, often as a result of borrowing.