The principle of loss minimization states that the insured must:
A. Take all reasonable steps to prevent or minimize a loss.
B. File a claim immediately after a loss occurs.
C. Pay the deductible before the insurer settles the claim.
D. Provide false information to the insurer to increase the claim amount.
Answer:A
The principle of loss minimization states that the insured must:
A. Take all reasonable steps to prevent or minimize a loss. B. File a claim immediately after a loss occurs. C. Pay the deductible before the insurer settles the claim. D. Provide false information to the insurer to increase the claim amount.