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WAEC Commerce 1993 Question 50

Question 50

Insurance

Third Party Insurance covers, damages

  1. A.to both passengers and the vehicle
  2. B.caused by the vehicle insured
  3. C.to all parties concerned
  4. D.to both vehicles involved
  5. E.to the insured vehicle only.
Show the answer and explanation

Answer: B (caused by the vehicle insured)

Explanation

Third-party insurance pays for injury or damage the insured vehicle causes to other people and their property.