Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is property insurance primarily designed to protect against?
What is property insurance primarily designed to protect against?
- Loss or damage to property caused by covered causes of loss (correct)
- Loss or damage to property caused by natural disasters
- Loss or damage to property caused by negligence
- Loss or damage to property caused by wear and tear
What are buyers of insurance referred to as?
What are buyers of insurance referred to as?
- Claimants
- Policyholders
- Beneficiaries
- Insureds (correct)
What is the consideration paid by insureds or policyholders known as?
What is the consideration paid by insureds or policyholders known as?
- Premium (correct)
- Claim
- Deductible
- Coverage
What is the primary function of first-party insurance?
What is the primary function of first-party insurance?
Signup and view all the answers
Who offers the protection that insureds or policyholders buy through insurance?
Who offers the protection that insureds or policyholders buy through insurance?
Signup and view all the answers
What does property insurance primarily protect against?
What does property insurance primarily protect against?
Signup and view all the answers
Who are the buyers of insurance referred to as?
Who are the buyers of insurance referred to as?
Signup and view all the answers
What is the consideration paid by insureds or policyholders known as?
What is the consideration paid by insureds or policyholders known as?
Signup and view all the answers
What is the primary function of first-party insurance?
What is the primary function of first-party insurance?
Signup and view all the answers
Who offers the protection that insureds or policyholders buy through insurance?
Who offers the protection that insureds or policyholders buy through insurance?
Signup and view all the answers
