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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