New SIDBI Grade A New Batch Starts on Nov 18

    Register

    Question

    Which of the following is an example of Broad Form Insurance?

    A Mortgage insurance Correct Answer Incorrect Answer
    B Automobile insurance Correct Answer Incorrect Answer
    C Liability insurance Correct Answer Incorrect Answer
    D Property insurance Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    An auto insurance is a policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident. Instead of paying out of pocket for auto accidents, people pay annual premiums to an auto insurance company; the company then pays all or most of the costs associated with an auto accident or other vehicle damage.

    Practice Next