The principle of indemnity means that an
A) insured can only purchase an insurance policy that covers actual losses.
B) insurance company will only pay the policyholder up to the face amount of the policy.
C) insurance company will reimburse the insured only for actual losses.
D) insured can only purchase insurance to cover his or her own property.
Correct Answer:
Verified
Q35: The principal of indemnity, which underlies insurance
Q36: Jerome insured his home for $120,000. He
Q37: If an agent added a rider to
Q38: If there is an exclusion on your
Q39: A deductible is the
A) proportion of the
Q41: A deductible requires the policyholder to pay
A)
Q42: Insurance policies often include terms and conditions
Q43: The law of large numbers holds that
Q44: If Sharon Johnson, a 49-year-old experienced driver,
Q45: Maryanne has chosen a homeowner's insurance policy
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