Question

What term includes damage where the insured peril was the proximate cause of loss?

Answer 1

Coinsurance is the term that includes damage where the insured peril was the proximate cause of loss. In coinsurance, the insurance policyholder pays a percentage of a loss, and the insurance company pays the remaining cost.

Step-by-step explanation:

The term that includes damage where the insured peril was the proximate cause of loss is called coinsurance.

In coinsurance, an insurance policyholder pays a percentage of a loss, and the insurance company pays the remaining cost.

This means that if the insured peril is determined to be the proximate cause of the loss, the insurance company will be responsible for paying the remaining cost.