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The major determinant of fire insurance premium is the

The major determinant of fire insurance premium is the
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • 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.
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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