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Which one (1) of the following statements accurately describes a deductible clause in an insurance policy? It does not apply if the policy covers only fire and extended coverage perils. It specifies the amount in excess of which an insurer will pay a loss. It applies only to the contents loss if both building and contents are insured in the same policy. It applies separately to each item that is lost or damaged.

Which one (1) of the following statements accurately describes a deductible clause in an insurance policy? It does not apply if the policy covers only fire and extended coverage perils. It specifies the amount in excess of which an insurer will pay a loss. It applies only to the contents loss if both building and contents are insured in the same policy. It applies separately to each item that is lost or damaged.

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Which one (1) of the following statements accurately describes a deductible clause in an insurance policy? It does not apply if the policy covers only fire and extended coverage perils. It specifies the amount in excess of which an insurer will pay a loss. It applies only to the contents loss if both building and contents are insured in the same policy. It applies separately to each item that is lost or damaged.
Transcribed Image Text:Which one (1) of the following statements accurately describes a deductible clause in an insurance policy? It does not apply if the policy covers only fire and extended coverage perils. It specifies the amount in excess of which an insurer will pay a loss. It applies only to the contents loss if both building and contents are insured in the same policy. It applies separately to each item that is lost or damaged.
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