GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gap Insurance
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Double Insurance
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Inflation Guard Clause
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Inland Marine Insurance
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Detailed explanation-1: -These include: Ocean Cargo insurance, Hull and Machinery insurance, Protection and Indemnity insurance, and Marine Liability insurance, both primary and excess.
Detailed explanation-2: -Inland transit insurance is the coverage for insured shipments or goods when being transported domestically mostly by land. Marine cargo insurance provides coverage for the import or export of goods from one nation to another, by the means of land, air or sea.
Detailed explanation-3: -Marine insurance covers the loss/damage of ships, cargo, terminals, and includes any other means of transport by which goods are transferred, acquired, or held between the points of origin and the final destination. The term originated when parties began to ship goods via sea.