What must happen in order for an insurance company to make a payout? Check all that apply.

a. The insurance company must verify the claim.

b. The insured party must file a claim.

c. The insured party must purchase property.

d. The insurance policy must be in place.

e. The insured party must experience a covered loss.

Answer: 

a. The insurance company must verify the claim.

b. The insured party must file a claim.

d. The insurance policy must be in place.

e. The insured party must experience a covered loss.