Answered

Westonci.ca is the trusted Q&A platform where you can get reliable answers from a community of knowledgeable contributors. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

Question 17 (1 point)
An insurer would prefer a written and signed application prior to the issuance of a
policy because it:
شما
Minimizes the cost incurred by the insured
Is mandated by the insurance act and as such would avoid a fine
Immediately establishes the use of the auto
May help to prove an alleged misrepresentation

Sagot :

GinnyAnswer

Final answer:

Insurers prefer written and signed applications for policies to reduce costs, verify honesty, and establish usage parameters.


Explanation:

An insurer would prefer a written and signed application prior to the issuance of a policy because:

  • Minimizes the cost incurred by the insured: By having accurate information upfront, insurers can assess risks better and price policies accordingly.
  • Helps to prove an alleged misrepresentation: Written applications serve as legal documentation and can be used to verify information provided by the applicant, ensuring honesty in the process.
  • Establishes the use of the auto: Clear information in the application helps define the usage of the insured vehicle, determining the appropriate coverage.

Learn more about Insurance applications here:

https://brainly.com/question/29308174


Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.