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WAEC Commerce 2002 Question 31

Question 31

Insurance

Hull insurance is taken to cover

  1. A.injury to the crew of the ship
  2. B.non-payment of freight
  3. C.damage to the cargo
  4. D.damage to the body of the ship
Show the answer and explanation

Answer: D (damage to the body of the ship)

Explanation

Hull insurance covers the ship itself and its machinery.