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Describe your decision to purchase or not purchase homeowner’s or renter’s insurance. In your situation, what...

Describe your decision to purchase or not purchase homeowner’s or renter’s insurance. In your situation, what happens/would happen as a result of theft or system breakdown? If you have not purchased insurance yet, what type of policy would you consider in the future? Discuss how it could protect you.

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Expert Solution

Answer: Rental Insurance- It is an insurance policy, that provides coverage to you and your belongings. It includes liability coverage, protection for your belongings and additional living expense.

I will purchase rental insurance because it covers:

  • It covers the cost of repair or replace your belongings such as clothes, furniture and electronics up to a certain limit.
  • Additional costs like hotel bills, of the rented home is damaged.

If something is theft or damaged, it will not be covered under rental's insurance after a certain limit.

If I have still not taken any plan, I will go for, "Personal property coverage". This will cover the cost of replacing your stuff that is damaged or ruined. It also protects from theft and stolen, if your computer is stolen, this insurance will help you to pay the cost of buying new computer.

jeff jeffy answered 2 years ago
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