When Reviewing an Insurance Policy,which Is Not Considered a Key

question 23

Multiple Choice

When reviewing an insurance policy,which is not considered a key policy provision?

• A)The deductible
• B)Perils covered
• C)Losses covered
• D)Amount of coverage

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Definitions:

Coinsurance Clause

A provision in an insurance policy that requires the policyholder to bear a portion of the loss in proportion to the coverage amount, encouraging them to insure the property to its full value.

Fire Damage

The destruction or harm caused to property, structures, or objects by fire.

Insurance Company

An entity that provides financial protection and compensation for losses or damages in exchange for payment of premiums.

Coinsurance Coverage

A type of insurance in which the insured pays a share of the payment made against a claim.