What information must an applicant often provide when applying for a property insurance policy?

When applying for a property insurance policy, the applicant is typically required to provide details about the property in question, the type of coverage needed, and any prior loss history. This information is critical for the insurer to assess the risk associated with insuring the property.

Understanding the specifics of the property, such as its age, type of construction, location, and any safety features, helps the insurer determine the appropriate coverage options and premium rates. Additionally, details regarding the coverage needed assist the insurer in designing a policy that meets the applicant's needs while ensuring adequate protection for potential risks.

Loss history, which includes any previous claims made on the property, is equally important. It gives the insurer insight into the likelihood of future claims based on past experiences. This comprehensive information allows the insurance company to evaluate the risk more accurately and set terms that reflect the potential exposure.

Other options, such as providing financial history, market values of neighboring properties, or insurance policy numbers from past insurers, although potentially relevant in certain contexts, do not represent the core information commonly requested during the application process for property insurance.