The basic principles of property and liability insurance pertain to:
A)types of exposure
B)the principles of indemnity
C)coinsurance
D)all of the above

Question

Quizplus · Accepted Answer

All of the above options are basic principles of property and liability insurance. Types of exposure refer to the types of risk that a policy covers. The principle of indemnity states that the purpose of insurance is to restore the insured to the same financial condition that existed before the loss occurred. Coinsurance refers to a policy provision that requires the insured to carry a certain percentage of the value of the property as insurance, in order to avoid a penalty in the event of a partial loss.

The Basic Principles of Property and Liability Insurance Pertain To