Ch 10 Case - Chapter 10 Financial Planning Case 1 Why is it...

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Chapter 10: Financial Planning Case 1. Why is it important for people who rent to have insurance? It is important for people who rent to have insurance because of the property you own inside your apartment can be damaged and never be returned. If you have a flood or some kind of damage to your expensive belongings due to Mother Nature or any other cause, you can end up losing everything. However, if you purchase a renters insurance you may receive a cash value or replacements value which is better than losing everything and having to buy everything new. With assured renters insurance you are guaranteed that if anything happens to your belongings you would be reimbursed with some sort of value to restore your belongings. 2. Does the building owner’s property insurance ever cover the tenant’s personal property? Building owner’s property can or cannot cover the tenant’s personal property. If you purchase renters insurance you can be covered either by a cash value or a replacement
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This note was uploaded on 04/14/2010 for the course ACCT Act695 taught by Professor Smith during the Spring '10 term at York University.

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Ch 10 Case - Chapter 10 Financial Planning Case 1 Why is it...

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