JAMB - Commerce (2015 - No. 9)
The major determinant of fire insurance premium is the
Owner of the property
usefulness of the property to the owner
Type and structure of the property to be insured
extent of fire damaged anticipated.
Selitys
The type and structure of the property will determine the value of the property since the value of the property will have to be considered by the insurance company before the contract will be entered into by both parties.