Canadian Accredited Insurance Broker (CAIB) One Practice Exam 2025 – Comprehensive All-in-One Guide to Exam Success!

The scope of a general insurance policy typically includes coverage for property damage, liability, and additional living expenses. This comprehensive approach is designed to protect individuals or businesses against a variety of risks.

Property damage coverage helps ensure that policyholders can recover the costs associated with repairing or replacing their damaged assets, whether it’s a home, car, or business property. Liability coverage is crucial as it protects policyholders from legal claims arising from injuries or damages to others, which could result in significant financial liabilities. Additional living expenses coverage supports policyholders in situations where they cannot live in their property due to a covered loss, providing financial assistance for temporary housing and related costs.

The other options focus on narrower scopes or specific types of coverage that do not encompass the broader range offered by a general insurance policy. Liability coverage alone is insufficient to cover the various threats people face, while medical expenses and employee benefits typically fall under health insurance or employee benefits plans, not general insurance. Similarly, international travel insurance is a distinct product designed specifically for travel-related risks, outside the standard offerings of general insurance.