A multi-line policy is characterized by which of the following?

A multi-line policy is characterized by its ability to cover multiple insurance risks within a single policy framework. Such policies are designed to bundle various types of coverage, offering benefits for more than one exposure or type of risk. This flexibility allows the policyholder to obtain comprehensive protection while potentially benefiting from cost savings compared to purchasing multiple separate policies.

In contrast, options that suggest exclusivity to property damage or are limited to health insurance do not accurately represent the broad scope of coverage that multi-line policies provide. While higher premiums may sometimes accompany these comprehensive policies due to the increased level of risk and breadth of coverage, this is not a defining characteristic of multi-line policies themselves. The primary focus remains on their comprehensive approach to covering a variety of risks.