The major determinant of fire insurance premium is the

Commerce

JAMB 2015

A. Owner of the property
B. usefulness of the property to the owner
C. Type and structure of the property to be insured
D. extent of fire damaged anticipated.

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Correct Answer: Option C

Explanation

The type and structure of the property will determine the value of the property since the value of the property will have to be considered by the insurance company before the contract will be entered into by both parties.

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The major determinant of fire insurance premium is the

Correct Answer: Option C

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