Time policy in insurance is associated with

Assessment: WAEC SSCE - Commerce - 2005 (Objective) Subject: Commerce

Question 1 Report

Time policy in insurance is associated with
Answer Details
The time policy in insurance is associated with "goods in transit." Goods in transit insurance provides coverage for loss or damage to goods while they are being transported from one location to another. The time policy aspect of goods in transit insurance refers to the duration of the coverage, which is typically for a specific period of time, such as one month or six months. For example, if a business is shipping products to a customer, they can purchase goods in transit insurance with a time policy for the duration of the shipment. If the goods are lost or damaged during transit, the insurance policy will cover the cost of the loss or damage up to the policy limits. Therefore, the answer is: goods in transit.

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