| Eke bought a new car for N1.5M. The practice in the insurance industry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% additional cover for strike, riot and civil commotion. Eke was issued a document and two weeks later, he was issued another document different from the first document issued |
A. cover note
B. proposal form
C. satisfaction note
D. renewal notice
Correct Answer: Option A
A. cover note
Explanation
A cover note is a temporary document issued by an insurance company that provides proof of insurance coverage until a final insurance policy can be issued. A cover note is different from a certificate of insurance or an insurance policy document.
