Question

Give examples of situations when property and liability insurance situations might affect a person’s overall financial planning.

Answer 1

Examples of situation when property and liability insurance situation might affect a person overall financial planning-

A. When a person has published certain material that has violated privacy of another person, it would be leading to example of saving the person from the personal injury and it could be affecting the overall financial planning

B. If a person has faultly arrested another person, it would be helpful in order to save him from personal injury through property and liability insurance and help in his overall financial planning

C. When a person has caused damage to another property and he has also caused damage to the reputation of the another person then these property and liability insurance will be helping him in order to save himself and has a better finishing planning

D. when a person has engaged himself in property damage of the another person then property insurance will be helping this person in order to compensate the another person and have a better financial planning

E.when a person has published inaccurate information that will be damaging and others reputation and slandering the the reputation of organisation, personal liability insurance will be helping him in order to have a better financial planning

F.if a person has involved in wrongfully eviction of somebody else than that person is liable for bearing the damages but the Insurance scheme will be helping him in order to compensate and have a better financial planning.

So it can be summarised that in these situations the person can better manage his finances through taking property and liability insurance