ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In such a case, you can either file a claim through your home insurance policy or file a claim through the driver’s property liability cover. If your home insurance or driver’s liability cover doesn’t fully cover the damage you can file a claim under both to cover the entire cost of fence repair.

Detailed explanation-2: -Damage to the property of others is typically part of homeowners insurance. It covers damage to property and liability or legal responsibility for bodily injury or property damage that policyholders or family members cause to other people. It also covers damage caused by household pets.

Detailed explanation-3: -Contents insurance covers the cost of replacing or repairing your possessions if they are damaged, destroyed or stolen. It includes everything you would take with you if you moved home including your furniture, kitchen appliances, curtains, bedding, clothing, television, computing equipment and jewellery.

Detailed explanation-4: -It depends on how the TV was damaged. Home insurance covers a broken TV if it’s damaged by a covered peril. That includes things like a fire or vandalism. However, accidental damage is usually not covered.

Detailed explanation-5: -Home contents insurance covers you against loss, theft or damage to your personal and home possessions. It can also cover you if you take items out of the home, on holiday, for example. The insurance covers your own possessions and those of close family members living with you.