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Question

_____ is useful for insuring precious items, artwork, and antiques, the assets value is agreed between the insurer and insured at the time of insurance.
  1. Comprehensive Policy
  2. Valued Policy
  3. Reinstatement Value Policy
  4. Floating Policy

A
Comprehensive Policy
B
Valued Policy
C
Floating Policy
D
Reinstatement Value Policy
Solution
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Valued policy is useful for insuring precious items, artwork, and antiques, the assets value is agreed between the insurer and insured at the time of insurance. With a valued policy, the insurer pays a specified amount to or on behalf of the insured upon the occurrence of defined loss.

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