file:///C:/Users/Hamza/Downloads/Renter's%20Insurance%20sample%20policy%20(1).pdf

Question 6

Which semi-common emergency event is NOT covered by this insurance policy?

Group of answer choices

Flood

Fire

Riots and looting

Explosions

Flag question: Question 7

Question 72 pts

Assume this policy has a deductible of $1,000 and a coverage limit of $15,000. If there are personal property losses of $7,000 for a covered event, which best describes how much both parties pay?

Group of answer choices

Insured person pays $0; insurance company pays $7,000

Insured person pays $1,000; insurance company pays $6,000

Insured person pays $1,000; insurance company pays $7,000

Insured person pays $1,000; insurance company pays $15,000

Flag question: Question 8

Question 82 pts

A tenant with this insurance policy suffers a substantial loss due to lightning strike and an apartment fire that erupts as a result of a storm. The tenant should take each of the following steps as soon as possible EXCEPT

Group of answer choices

Call the insurance company and report the loss and damages

Sign up for additional renters insurance, as this coverage has now been used up and will expire

Divide property into damaged and undamaged categories and submit a thorough list of everything damaged

Provide receipts, when available, for damaged items, costs associated with living elsewhere, and costs of doing any self-repair on the rental property

Flag question: Question 9

Question 92 pts

The insured person must prepare a report, outlining full details of the loss including all items destroyed, damaged, or stolen and their actual cash value, within...

Group of answer choices

24 hours

1 week

60 days

180 days

Flag question: Question 10

Question 102 pts

What happens if the insured tenant and the insurance company fail to agree on the amount of loss?

Group of answer choices

Either the tenant or the company can request an appraisal, so that an impartial third party determines the amount of loss

The insurance policy becomes null and void

The insurance company is forced to pay the current online market price for the item

The landlord or owner of the building must make up the difference in the disputed value