JAMB - Commerce (2007 - No. 28)
The major determinant of fire insurance premium is the?
type and structure of the property to be insured
usefulness of the property to the owner
owner of the property to be insured
extent of fire damage anticipated
Uitleg
The total value of your assets and building is the basic factor of the premium amount. The market value of the building and purchase value of all the contents are taken into consideration while calculating the premium amount.