| 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. satisfaction note
B. renewal notice
C. proposal form
D. certificate of insurance
Correct Answer: Option D
D. certificate of insurance
Explanation
A certificate of insurance is a document used to provide information on specific insurance coverage. The certificate provides verification of the insurance and usually contains information on types and limits of coverage, the insurance company, policy number, named insured, and the policies’ effective periods.
