Property Insurance

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Insurance of ___________ means insurance of buildings, machinery, stocks etc against Fire and Allied Perils, Burglary Risks and so on.
(a) wealth
(b) demand
(c) property
(d) capital
(e) general

Ans.(c)

Sol. Insurance of property means insurance of buildings, machinery, stocks etc against Fire and Allied Perils, Burglary Risks and so on. Goods in transit via Sea, Air, Railways, Roads and Courier can be insured under Marine Cargo Insurance.

Hulls of ship and boats can be insured under Marine Hull Insurance. Further, there are specialised policies available such as Aviation Insurance Policy for insurance of planes and helicopters.

Thus Property Insurance is a very vast category of General Insurance and the type of cover that you need depends upon the type of property you are seeking to cover.

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