Assume a person has a Contents policy for a rented apartment and has $50,000 of personal property

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Assume a person has a Contents policy for a rented apartment and has $50,000 of personal property insured. If the apartment building and all contents are destroyed by fire, this renter will receive insurance compensation (ignoring deductibles) of :

I. $50,000 for the destroyed personal property

II. $15,000 for loss of use

I only
II only
both I and II
neither I nor II

Related Book For answer-question

Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Dec 13, 2023 10:13 PM

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Assume a person has a Contents policy for a rented apartment and has $50,000 of personal property

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The detailed answer for the above question is provided below The answer is both I and ... View the full answer

Personal Finance

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