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Commerce (1,909)
Lecture

Property Insurance.docx

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Department
Commerce
Course
COMMERCE 4FL3
Professor
Tony Belsito
Semester
Fall

Description
Property Insurancepp 315 Property Insurance is what covers the catastrophes that happens to your home burglary fire Perilriskloss Liability Insurance is insurance that covers you in case something happens on your propertysomeone falls on ice You should have a picture record or plain record of what you have in case of vandalism and theftNegligence If you dont protect others from harm you are negligent not salting IndemnityYou can not claim for more than your loss than what you actually lost If you lost 10 000 in a fire you cant claim 20 000 If they catch you you get charged with fraud because you are lying This why they like to see pictures of inventories that you haveActual vs replacementMost policies nowadays use a replacement cost You would want to be able to replace your asset If they reimburse yo
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