Which of the Following Insurance Policy Provisions Requires That the Insured

question 54

Multiple Choice

Which of the following insurance policy provisions requires that the insured must pay for part of the loss of a claim if the property is not insured for the specified percentage of replacement value?

• A)personal property floater
• B)an endorsement
• C)assigned risk clause
• D)umbrella coverage
• E)coinsurance clause

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Definitions:

Lower-Income People

Lower-income people are individuals or groups that earn significantly less money compared to the average income levels within a society.

Deviant Acts

Actions that go against the norms or laws of a society, which can range from minor nonconformities to major offenses.

Ritualists

Individuals who strictly adhere to established rituals or ceremonies, often within a religious or cultural context.

Retreatists

Individuals who reject both the cultural goals and the institutional means of achieving them, withdrawing from society's expectations.