Question

what is the insurance type of material insurance​

Answer 1

Answer:

Material Damage Insurance

Material Damage Insurance is the modern form of the fire & perils insurance. It is superior because of its broadness of coverage, meaning that if it is not excluded then it is covered. The policy also provides accidental type coverage and is adaptable to extend and limit coverage as required.

Answer 2

The word 'material' means 'relevant' or 'pertinent', so it's about what is relevant to the insurance contract. What's in question is whether the insurer would have assigned a different risk level to your coverage had the insurer known pertinent information.