IREM Certified Property Manager (CPM) Practice Test

Question: 1 / 400

What type of insurance includes protection against accidental physical loss?

Commercial Liability Insurance

Property (Hazard) Insurance

Property (Hazard) Insurance is specifically designed to protect against accidental physical loss or damage to tangible property, including buildings, equipment, and personal property. This type of insurance provides coverage for various events such as fire, theft, vandalism, and natural disasters, ensuring that property owners can recover from unexpected losses.

In contrast, Commercial Liability Insurance primarily covers legal liabilities for bodily injury or property damage to others, while Workers' Compensation Insurance provides benefits to employees who are injured on the job. Business Interruption Insurance, on the other hand, focuses on compensating for lost income due to disruptions in business operations, rather than covering physical loss or damage to property. Thus, Property (Hazard) Insurance is the most relevant choice when it comes to safeguarding against accidental physical loss of property.

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Workers' Compensation Insurance

Business Interruption Insurance

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