Question

Select a word, term or a phase which can substitute the statements:

An insurance policy, covering goods of different types of lying at different places.

• A. Comprehensive policy
  
• B. Floating policy
  
• C. Fire policy
  
• D. None of these
  

Answer 1

Answer: (B)

Floating policy

An insurance policy, covering goods of different types of lying at different places is known as floating policy. Payment for insuring the goods under floating policy can change from one period to another as the value of the insured goods cannot be calculated.