GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Multiple Policy
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Package Policy
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Combined Policy
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None of the Above
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Detailed explanation-1: -Comprehensive is also known as Package policy because it normally includes coverage for loss/damages to car, third party liability, personal accident risk and opted riders to cover certain exclusions or additional benefits under the policy. Without comprehensive coverage, a car insurance claim cannot be made.
Detailed explanation-2: -This is a single policy that includes coverage for Auto and Homeowners (usually written as separate policies), and sometimes, umbrella (which extends the liability coverage on your Auto and Homeowners policies). It is sometimes referred to as a package policy.
Detailed explanation-3: -A single insurance policy that combines several coverages previously sold separately. Examples include homeowners insurance and commercial multiple peril insurance.