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      Question

      _______ is coverage for the policyholder’s own property or person.

      A First Party Coverage Correct Answer Incorrect Answer
      B Second Party Coverage Correct Answer Incorrect Answer
      C Third Party Coverage Correct Answer Incorrect Answer
      D None of the Above Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      First party coverage refers to a compensation received under one’s own insurance policy as opposed to receiving payment from someone else's insurance policy. If an insured causes damage to his/her property, the loss covered under the terms of a policy of insurance is commonly known as a first party coverage.

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