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    Question

    Which type of insurance policy includes that the insurer agrees to pay a fixed sum of money irrespective of the amount of loss to the insured?

    A Comprehensive Policy Correct Answer Incorrect Answer
    B Average Policy Correct Answer Incorrect Answer
    C Consequential Loss Policy Correct Answer Incorrect Answer
    D Valued Policy Correct Answer Incorrect Answer
    E Floating Fire Policy Correct Answer Incorrect Answer

    Solution

    This type of feature will benefit the insured because he /she can claim the good amount as compared to the loss occurred.

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