The first step in buying property and liability insurance is to develop a(n)__________.
A)list of insurance agents offering insurance
B)inventory of exposures to loss
C)statement of premiums of five different insurance companies
D)list of floater policies

Question

The first step in buying property and liability insurance is to develop a(n)__________. ​
A)list of insurance agents offering insurance
B)inventory of exposures to loss
C)statement of premiums of five different insurance companies
D)list of floater policies

Quizplus · Accepted Answer

The first step in buying property and liability insurance is to develop an inventory of all potential exposures to losses. This will help you determine what type of coverage you need and how much coverage you should purchase. It's important to understand your risks before you can effectively protect yourself with insurance. The other options listed (A, C, and D) are not necessary in the initial stage of developing an insurance plan.

The First Step in Buying Property and Liability Insurance Is