The basic principles of property and liability insurance pertain to:
A) the types of exposure.
B) the principles of indemnity.
C) co-insurance.
D) all of the above
E) none of the above

Question

Quizplus · Accepted Answer

The basic principles of property and liability insurance include the types of exposure (such as fire, theft, and liability), the principles of indemnity (which ensure that the policyholder is returned to the same financial position they were in before the loss occurred), and co-insurance (which requires the policyholder to maintain a certain level of coverage relative to the value of their property in order to avoid a coinsurance penalty).

The Basic Principles of Property and Liability Insurance Pertain To