Question

Harry has a new sports car that is insured with an Insurance Services Office, Inc. (ISO) Personal Auto Policy sold through his neighborhood agent. Because this is the first new car he's ever owned, Harry is interested in making sure he is fully covered and knowledgeable about his insurance policy. Which one of the following is true for Harry

Answer 1

Answer:

An insurance contract, like the ISO policy Harry purchased, has certain additional characteristics other than those of typical valid contracts.

Explanation:

Which one of the following is true for Harry?

Select one

A. An insurance contract, like the ISO policy Harry purchased, has certain additional characteristics other than those of typical valid contracts.

B. Harry understands his policy is modular one, combining various coverage forms and other documents especially tailored to his needs.

C. Harry can rest assured that if his new car is a total loss, he can expect to make a profit while being restored to his pre-loss financial position

D. As the policy is a contract of utmost good faith, both his insurer and his agent are the parties expected to be ethical in their dealings with one another.