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This question belongs to Commerce Insurance

Insurance

?

Which of the following statement is true?

A) Insurance protects the asset B) Insurance prevents its loss C) Insurance reduces possibilities of loss D) Insurance pays when there is loss of asset

Answer & Solution

Correct Answer: Option D

The purpose of many insurance policies is to provide a replacement for lost, damaged or destroyed goods. Hence, insurance pays when there is loss of asset.

Question posted by Examveda

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