Property Insurance FundamentalsCâu 226 / 474
The difference between a direct loss and an indirect or consequential loss is that the indirect loss is:
a.The physical damage the covered peril itself causes
b.The financial loss that follows the physical damage
c.The damage a neighbor's covered peril causes here
d.The portion of damage the deductible leaves unpaid
Giải thích
A direct loss is the physical damage the peril causes; an indirect or consequential loss is the money loss that flows from it, such as additional living expense, lost rent or spoiled food. The choice describing physical damage from the peril defines direct loss, the very thing being contrasted. A neighbor's peril and the deductible have nothing to do with the distinction.
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Câu hỏi liên quan cùng chủ đề
- A homeowners policy shows a dwelling limit of $280,000 and a 2% deductible; the home's full replacement cost is $350,000. A covered $34,000 loss occurs. The insurer pays:
- Under a named-perils property form, who carries the burden of proof when a claim is filed?
- On an open-perils form, once the insured shows that direct physical loss occurred, the insurer must:
- A covered kitchen fire drives a family into a hotel for six weeks. Which part of that is the indirect loss?
- Proximate cause, as property insurance uses the term, refers to:
- Firefighters put out a covered kitchen fire and their water ruins the ceiling of the room below. That ceiling damage is:
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