Ace the Insurance Broker Certification 2025 – Unlock Your Path to Success!

Question: 1 / 400

What type of insurance covers the loss of physical property or its income-producing abilities?

Health insurance

Property insurance

Property insurance specifically addresses the coverage of physical property and the income it generates. This type of insurance protects against risks such as damage or loss to tangible assets, including buildings, equipment, inventory, and personal belongings. Additionally, it can provide coverage for loss of income resulting from the inability to use the insured property due to a covered loss.

In contrast, health insurance focuses on medical expenses and healthcare services rather than property. Casualty insurance pertains to liability and could cover losses related to accidents or injuries to other parties, but it does not directly insure physical property itself. Life insurance, meanwhile, covers the financial impact associated with the death of an individual, offering payouts to beneficiaries upon the insured’s passing, rather than addressing property loss or income generation directly.

Get further explanation with Examzify DeepDiveBeta

Casualty insurance

Life insurance

Next Question

Report this question

Download Insurance Broker Certification Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy