BUISENESS MANAGEMENT
RISK MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
You are at fault in a car accident. The other person requires medical treatment and car repairs as a result.
|
|
Health insurance
|
|
|
Homeowners insurance
|
|
|
Liability insurance included in your auto policy
|
|
|
Long term care insurance
|
Explanation:
Detailed explanation-1: -Liability coverage pays for the policyholder’s legal responsibility to others for bodily injury or property damage. Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
Detailed explanation-2: -Property damage liability-It covers property damages to third parties such as another person’s car. Medical payments-This payment is done to the policy owner and other passengers in the policy owner’s car.
Detailed explanation-3: -In the event of an accident wherein the insured person causes damage to the third party car, the insurer will provide coverage of up to Rs 7.5 lakh for the third party.
There is 1 question to complete.