Alberta General Insurance Level 1 Practice Exam

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What is covered by property insurance?

  1. Only the exterior damage to property

  2. The increase in property value

  3. The loss or damage of a property due to specific perils

  4. Cybersecurity threats

The correct answer is: The loss or damage of a property due to specific perils

Property insurance covers the loss or damage of a property due to specific perils, such as fires, theft, or natural disasters. Option A is incorrect because property insurance can also cover interior damage, such as damage to furniture or appliances. Option B is incorrect because property insurance does not cover the increase in property value. Option D is incorrect because cybersecurity threats are typically covered by separate cyber insurance policies, not property insurance. Therefore, option C is the most accurate and comprehensive answer.

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