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WAEC Commerce 1997 Question 35

Question 35

Insurance

Which of the following is not covered by fire insurance policy?

  1. A.Consequential loss
  2. B.Gas explosion
  3. C.Domestic boilers
  4. D.Lightning
  5. E.Kerosine explosion
Show the answer and explanation

Answer: A (Consequential loss)

Explanation

A fire policy covers damage to property from fire, lightning and some explosions; loss of profit after a fire needs a separate consequential loss policy.