Eke bought a new car for N1.5M. The practice in the insurance idustry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% additional cover for strike, riot and civil commotion. Eke was issued a document and two weeks later, he was issued another document different from the first document issued
The document issued to Eke within one week of the contract is
A. cover note B. proposal form C. satisfaction note D. renewal notice
Correct Answer: A
Explanation
A cover note is a temporary document issued by an insurance company that provides proof of insurance coverage until a final insurance policy can be issued. Acover note is different from a certificate of insurance or an insurance policy document.
