BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following would likely be covered under homeowners insurance but NOT by renter’s insurance?
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Your basement floods, causing you to lose a valuable collection.
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A burglar makes off with your laptop while you’re out of town.
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A tree branch breaks your bedroom window during a storm.
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A fire destroys almost all your possessions.
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Explanation:
Detailed explanation-1: -Renters insurance can cover items damaged by fire, smoke, and other situations. Water Damage: Similar to fire and smoke, your renters insurance may cover items caused by certain types of water damage. Temporary Living Expenses: If your apartment is damaged due to a covered loss, you may need to find a place to stay.
Detailed explanation-2: -Renters insurance covers you and your stuff for damages (or ‘perils’ in insurance speak), including theft, fire, vandalism, and water damage from things like burst pipes. Here’s a complete list of the perils that are covered under your base renters insurance policy in California: Fire or lightning. Windstorm or hail.
There is 1 question to complete.