One type of commercial property insurance excludes perils that are covered by the basic coverages.Some businesses buy this coverage to fill coverage gaps,including flood and earthquake,and to cover property in other countries.This type of insurance is called

Question

Quizplus · Accepted Answer

The type of insurance that excludes perils covered by basic coverages and is purchased to fill coverage gaps, including flood and earthquake, and to cover property in other countries is known as difference in conditions (DIC) insurance. Protection and indemnity insurance is a type of liability insurance for marine vessels, and building and personal property coverage form and builders risk coverage form are specific types of property insurance policies.

One Type of Commercial Property Insurance Excludes Perils That Are