#1
Which type of insurance policy provides coverage for damage to the insured's property caused by fire?
Fire insurance
ExplanationCovers damage to the insured's property caused by fire.
#2
What is the primary purpose of 'Credit Insurance'?
Coverage for loss due to non-payment of debts
ExplanationProvides coverage for losses due to non-payment of debts.
#3
What does 'Renters Insurance' typically cover?
Coverage for loss of personal belongings due to theft, fire, or other covered perils
ExplanationProvides coverage for loss of personal belongings.
#4
What does 'Travel Insurance' usually provide coverage for?
Coverage for trip cancellations, medical emergencies, lost luggage, and other travel-related risks
ExplanationCovers trip cancellations, medical emergencies, lost luggage, and other travel-related risks.
#5
What does 'Pet Insurance' typically cover?
Coverage for veterinary expenses for pets
ExplanationProvides coverage for veterinary expenses for pets.
#6
In insurance, what does 'Umbrella Policy' typically refer to?
A policy providing extra liability coverage beyond the limits of basic policies
ExplanationProvides additional liability coverage beyond basic policies.
#7
What is 'Key Person Insurance' designed to cover?
The life of an important employee or executive
ExplanationCovers the life of a crucial employee or executive.
#8
Which of the following is NOT a type of special insurance policy?
Health insurance
ExplanationHealth insurance is not a type of special insurance policy.
#9
What does 'Event Cancellation Insurance' provide coverage for?
Coverage for loss of income due to event cancellation
ExplanationProtects against loss of income due to event cancellation.
#10
What does 'Professional Liability Insurance' protect professionals against?
Coverage for errors or negligence that result in financial losses
ExplanationProtects against financial losses resulting from errors or negligence.
#11
In insurance, what does 'Inland Marine Insurance' typically cover?
Coverage for shipping cargo over land
ExplanationProvides coverage for cargo transported over land.
#12
What does 'Kidnap and Ransom Insurance' typically cover?
Coverage for losses due to kidnapping, extortion, or hijacking
ExplanationCovers losses from kidnapping, extortion, or hijacking incidents.
#13
What does 'Political Risk Insurance' provide coverage for?
Coverage for loss due to political events such as war, terrorism, or government confiscation
ExplanationProtects against losses due to political events.
#14
What does 'Environmental Liability Insurance' protect against?
Coverage for losses resulting from pollution or environmental damage
ExplanationProtects against losses from pollution or environmental damage.