Which of the following obligations do most property insurance contracts impose on the property owner?
A) Identify the perils against which protection is needed.
B) Divide and classify belongings as " personal property " and " business property. "
C) Complete a property inventory and designate a future value to each item listed in the inventory.
D) Arrange for a real estate appraiser to determine the value of the property.
E) Provide information related to previous rental history and claim history.

Question

Quizplus · Accepted Answer

Most property insurance contracts require the property owner to identify the perils against which protection is needed. This helps the insurance company to determine the appropriate coverage needed and the premium to be charged. Other obligations listed in the options are not commonly required by property insurance contracts.

Which of the Following Obligations Do Most Property Insurance Contracts