A businessman insuring his warehouse against fire is an example of:
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Correct Answer: Option B
Explanation:
Property insurance protects physical assets such as buildings, warehouses, machinery, and equipment against risks like fire, theft, or destruction. In this case, the businessman is protecting his warehouse from possible financial loss that could result from fire outbreaks or related damages.
Property insurance protects physical assets such as buildings, warehouses, machinery, and equipment against risks like fire, theft, or destruction. In this case, the businessman is protecting his warehouse from possible financial loss that could result from fire outbreaks or related damages.