Identify the correct statement

A. Assets are protected by insurance

B. Insurance prevents loss to assets

C. Insurance compensates for the loss of the value of assets

D. Probabilities of loss are considerably reduced by insurance

Answer: Option C

Solution(By Examveda Team)

Insurance compensates for the loss of the value of assets. Coverage may also include compensation for being unable to use the item or for other damages caused by the item's loss.