Florida Insurance Licensing 2025 – 400 Free Practice Questions to Pass the Exam

Question: 1 / 400

Which of the following is an advantage of a commercial package policy over monoline policies?

The package policy is easier to rate and sell - more efficient

In the package policy, coverage gaps are less likely to occur

Premium savings may result from a package policy

All of the above

A commercial package policy is a single insurance policy that combines several types of coverage for businesses. In contrast, monoline policies provide coverage for a single type of risk. The advantage of a commercial package policy over monoline policies is that it offers a more efficient and cost-effective option for businesses, as they only need to manage and pay for one policy. The package policy also reduces the risk of coverage gaps by including multiple coverages in one policy, providing broader protection for the business. Additionally, premium savings may result from bundling coverage under one policy. Therefore, option D, "All of the above," is the correct answer as it encompasses all the advantages of a commercial package policy over monoline policies. Options A, B, and C are incorrect as they only highlight individual advantages of a commercial package policy.

Get further explanation with Examzify DeepDiveBeta
Next Question

Report this question

Download Florida Insurance Licensing Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy