Property and Liability Coverage for CTFA Exam | Insurance Coverage Package

B

The correct answer is B. Multiple peril.

Multiple peril insurance is a package of coverage that includes various types of property and liability coverage, such as fire, theft, and liability insurance. It provides coverage for most property and liability risks except for workers' compensation, automobile insurance, and surety bonds. This type of insurance is typically used by businesses and homeowners to protect against various risks.

Single peril insurance, on the other hand, provides coverage for a single type of risk or peril, such as fire or flood damage. Property lines insurance refers to insurance coverage for specific types of property, such as buildings or personal property, while professional property insurance provides coverage for losses or damages related to professional services.

It's important to note that insurance policies can be complex and may vary depending on the insurer and the specific terms of the policy. It's always best to consult with a qualified insurance professional to fully understand the coverage provided by a particular insurance policy.