Homework Help is Here – Start Your Trial Now!
Business
Economics
42. Your insured decides to install a recreation room in the basement of the house. Which one (1) Homeowners under the insured's of the following statements would best describe the coverage Comprehensive Policy?

42. Your insured decides to install a recreation room in the basement of the house. Which one (1) Homeowners under the insured's of the following statements would best describe the coverage Comprehensive Policy?

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter16: Information, Risk, And Insurance
Section: Chapter Questions
Problem 11RQ: What is an actuarially fair insurance policy?
See similar textbooks
icon
Related questions
Question

42

AMD RYZEN 7000 SERIES S AMD RADEON GRAPHICS IDEAPAD L 360° Versatility Rapid Charge Boost eSupport 42. Your insured decides to install a recreation room in the basement of the house. Which one (1) of the following statements would best describe the coverage under the insured's Homeowners Comprehensive Policy? A. The insurer must be notified, otherwise any loss involving the building will not be covered. B. Losses to the recreation room will not be covered unless the insurer has been advised of the change. C. It will not affect coverage under the policy. D. If the policy covers Sewer Back-up, that peril will no longer be insured.
Transcribed Image Text:AMD RYZEN 7000 SERIES S AMD RADEON GRAPHICS IDEAPAD L 360° Versatility Rapid Charge Boost eSupport 42. Your insured decides to install a recreation room in the basement of the house. Which one (1) of the following statements would best describe the coverage under the insured's Homeowners Comprehensive Policy? A. The insurer must be notified, otherwise any loss involving the building will not be covered. B. Losses to the recreation room will not be covered unless the insurer has been advised of the change. C. It will not affect coverage under the policy. D. If the policy covers Sewer Back-up, that peril will no longer be insured.
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Contracts
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
SEE MORE TEXTBOOKS