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Question 17 (1 point)
An insurer would prefer a written and signed application prior to the issuance of a
policy because it:
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Minimizes the cost incurred by the insured
Is mandated by the insurance act and as such would avoid a fine
Immediately establishes the use of the auto
May help to prove an alleged misrepresentation



Answer :

GinnyAnswer

Final answer:

Insurers prefer written and signed applications for policies to reduce costs, verify honesty, and establish usage parameters.


Explanation:

An insurer would prefer a written and signed application prior to the issuance of a policy because:

  • Minimizes the cost incurred by the insured: By having accurate information upfront, insurers can assess risks better and price policies accordingly.
  • Helps to prove an alleged misrepresentation: Written applications serve as legal documentation and can be used to verify information provided by the applicant, ensuring honesty in the process.
  • Establishes the use of the auto: Clear information in the application helps define the usage of the insured vehicle, determining the appropriate coverage.

Learn more about Insurance applications here:

https://brainly.com/question/29308174


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