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PERSONAL FINANCE WEEK 3.docx

That may arise from pipes burst or the tree in the

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that may arise from pipes burst or the tree in the front yard crashing down on someone car. This is why the renter’s insurance policies came into existences. The thin red line is the homeowners insurance does carry liability for damage or injuries resulting from property owned or on the landlords property, however, it does not cover liability claims resulting from tenants property even if it on the landlords grounds. Thus, the renter’s insurance policy is always needed when renting. 3. What is the different between cash value and replacement? When shopping for a renter insurance policy or any insurance this is something that everyone should understanding. Cash value replacement for an insurance claim is usually cheaper monthly because it literally replaces the item or items claimed for their cash value at the time the loss is paid. Example of this is as followed: Jon buys a big expensive smart 3d television$3700 back in February 2017. The television has all the bells and whistles that Jon saved 2 years of funds to purchase. Jon has also paid $1200 into his policy for the 2017 year. For some random stroke of bad luck pipes burst in the room
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Personal finance week 3 3 where television is located and renders the $3700 television useless on 8 th January 2018. Jon files a claim and since that television is worth $900 dollars on 8th January
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