Property Insurance Basics Quiz
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Questions and Answers

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?

  • Claimants
  • Policyholders
  • Beneficiaries
  • Insureds (correct)

    • 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?

    <p>To indemnify the owner or user of property for its loss</p> Signup and view all the answers

    Who offers the protection that insureds or policyholders buy through insurance?

    <p>Insurance companies or insurers</p> Signup and view all the answers

    What does property insurance primarily protect against?

    <p>Loss or damage to property caused by covered causes of loss</p> Signup and view all the answers

    Who are the buyers of insurance referred to as?

    <p>Insureds or policyholders</p> Signup and view all the answers

    What is the consideration paid by insureds or policyholders known as?

    <p>Premium</p> Signup and view all the answers

    What is the primary function of first-party insurance?

    <p>To indemnify the owner or user of property for its loss</p> Signup and view all the answers

    Who offers the protection that insureds or policyholders buy through insurance?

    <p>Insurance companies or insurers</p> Signup and view all the answers

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