What defines a mono-line policy in property insurance?

A mono-line policy in property insurance is characterized by its focus on covering only one specific type of insurance or risk. This can include coverage for a singular aspect of property insurance, such as fire insurance or general liability coverage, without intertwining or bundling other types of risks or coverages.

Such a policy is distinct from multi-line policies, which cover several types of risks under a single contract, providing broader protection. The specificity of mono-line policies can be advantageous for businesses or individuals seeking targeted coverage without the complexities associated with multiple types of insurance.

Other options fail to characterize a mono-line policy accurately. While corporations may purchase mono-line policies, the defining aspect is not the nature of the insured but rather the singular focus of the coverage itself. Moreover, pricing can vary based on numerous factors, and a mono-line policy is not inherently more expensive than other types; the cost is determined by the specific coverage and risk assessment. Thus, option B correctly encapsulates the essence of a mono-line policy by emphasizing its exclusive coverage of one type of insurance.