n the context of home insurance coverage, it is correct to say that: * If damage from a fire or other event prevents the use of our home, the personal property coverage pays the cost of living in a temporary location while our home is being repaired. The main component of homeowner's insurance is protection against financial loss due to damage or destruction to a house or other structures. The additional living expenses coverage is related to the coverage of our household belongings, such as furnitire, appliances, and clothing. None of the other asnwers is correct

Q: health insurance plan is also available. b.Long-term care premiums may not be deducted within…

A: In a nutshell, the self-employed health insurance deduction allows self-employed people to deduct…

Q: Evaluate the benefits and costs of homeownership

A: Home ownership is also known as owner-occupancy. It means to possess another persons house, flat…

Q: Under the liability portion of a personal Auto policy, all of the following people are considered…

A: Auto or motor insurance is the insurance that is taken by an individual on the vehicle that is owned…

Q: Which one of the following statements is correct with respect to the Building and Personal Property…

A: A commercial insurance policy that protects against against unintentional damage to owned buildings,…

Q: The required floodplain management plan and necessary Rate Maps are developed.     Local taxes are…

A: National Flood Insurance Program which is managed by the Federal Emergency Management Agency enables…

Q: Losses due to destruction of personal property are covered by (choose the best answer) Personal…

A: Personal insurance : It is the insurance against risk or person's life , health etc. Life insurance…

Q: Sonja is considering the purchase and renovation of an old building. She has heard about the tax…

A: The Rehabilitation credit is the credit which can be availed by the owners to renovate and restore…

Q: "What is the effect of state laws forcing individuals to purchase auto liability insurance?"

A: Liability insurance protects against bodily harm and/or property damage claims. If the insured party…

Q: Homeowners policies have limits for items such as rare coins and jewelry. Which of the following…

A: If an individual owns some expensive items like antique articles, jewelry, fine arts, etc. then such…

Q: The value of Terrah’s personal residence has declined significantly because of a recent forest fire…

A: Casualty loss is the kind of loss which incurred suddenly, on an unexpected basis. Daily scrap…

Q: What are the key principles underlying both conventional and Islamic home financing techniques? Who…

A: Conventional home finance - Bank lending i.e. a bank provides a pure interest based loan. in…

Q: Discuss housing affordability in general. When researching your response consider the following:…

A: A major sector of the public utilizes financing for acquiring houses and other properties because…

Q: on is a policy that provides benefits if Sue is unable to perform the duties required by her regular…

A: Disability insurance works in the same way that paycheck insurance does. Disability insurance may…

Q: Under what circumstances would you consider buying or renting a house?

A: Although both renting and buying have financial benefits, homeownership is not for everyone. Unlike…

Q: Please address legislation passed that increased protection for homeowners from foreclosure or at…

A: Foreclosure is a legal process where a lender or a creditor or mortgage holder can recover or sell…

Q: Zoning laws set certain parameters concerning the right to use and build on property. If a landowner…

A: When the ways and methods to use land are guided and directed by the local municipal governments or…

Q: In order to meet the material participation test for a rental real estate activity, over what…

A: The taxpayer is the person who is liable to pay tax to the government on his/her income.

Q: Reggie was hosting a BBQ when the deck fell off his house. Several of his friends were hurt in the…

A: It is very important now a days to get an insurance done. Insurance saves an individual of protects…

Q: Which of the following is not a goal of probate laws? Choose the correct.a. To gather and preserve…

A: Probate Law: Probate refers to the general administering of a deceased person's will or the estate…

Q: Choose the response that accurately completes the following sentence. Člaiming the Child and…

A: One of the qualifications to the child dependent care credit is: In the case of married taxpayers,…

Q: What is the purpose of the laws of distribution? To guide the distribution of personal property…

A: When there does not exist any valid will then the state law takes the control of the administration…

Q: Which of the following claims against an estate does not have priority? Choose the correct.a.…

A:

Q: All of the following are covered under "Coverage D: Loss of Use" of the Homeowners 3 policy EXCEPT O…

A: The benefits of coverage D is which results in to cover these additional costs of  living expenses…

Q: A client interested in protecting a loved one's elegibility for government benefits, but also…

A: Compensation plan is a plan which helps in providing the benefits and increases the employees…

Q: In the context of estate planning, it is correct to say that: * Estate planning is a definite plan…

A: Estate planning is a process in which passing or transferring of assets takes place from one…

Q: All of the following are true of the HO-3 Special Form, EXCEPT:     The HO-3 meets the property and…

A: The most prevalent type of homeowners insurance coverage offered today is a HO-3 policy, which…

Q: Identify issues pertaining to any financial regulations  that cause persons to loose  their home?

A: In case of a default unlimited liability might cause a shareholder to loose their home.

Q: Felix is a property claims adjuster for a large property insurer. Janet is a policyholder who…

A: The above is the case of insurance. Insurance refers to the policy received by an individual or an…

Q: When you purchase a(n) ________, you are obtaining an extension to a homeowner's insurance policy…

A: An insurance policy is a way to protect oneself from any financial loss. There are various policies…

Q: Are there any circumstances at all in which you would advise a client that the costs of installing…

A: As per the IRS publication, medical expenses for diagnosis, treatment and prevention of diseases can…

Q: Upon Jena’s retirement, the couple plans to relocate their home close to the beach. For this…

A: The downsizing retirement strategy is a type of downsizing strategy that helps people to plan their…

Q: is taxable?  A. Proceeds of life insurance received by heirs B. Excess amount received over…

A: Taxable income: Taxable income is the income which are subject to payment of taxes. Therefore, any…

Q: Supplemental coverage for homeowner's insurance is available through endorsements. Which one…

A: Supplemental coverage for homeowner's insurance is available through endorsements. These are the…

Q: Is a taxpayer allowed to take the € 120 exclusive for a vacation home that was never rented? Explain…

A: The Internal Revenue Code (IRC) will be responsible for levying, and collecting the taxes from the…

Q: If a homeowner cannot get private home insurance, what are his/her choices for coverage? I. Surplus…

A: Surplus Carriers protects against a financial risk that is too high for a regular insurance company…

Q: When the taxpayer uses amounts received from the insurance company to restore damaged property to…

A: For ascertaining the tax consequences for the individual or any corporation, the taxable…

Q: Homeowners insurance covers all of the following, EXCEPT: a) Flood b) Fire c) Damage caused by…

A: Homeowners insurance is a kind of property insurance that conceals losses and damages to a person's…

Q: To receive coverage for bodily injury resulting from an accident with a stolen vehicle, an…

A: Auto insurance also called motor insurance is the type of insurance that is used for insuring a…

Q: What is the purpose of the laws of distribution? Choose the correct.a. To guide the distribution of…

A: Will helps to distribute the estate of descendant to their family members. When there is no will,…

Q: If you give time at a charitable organization can you deduct your transportation

A: Following expenses are typically tax-deductible for charity purposes: Transportation Expenses: You…

Q: In order to meet the material participation test for a rental real estate activity, over what number…

A: A taxpayer must substantially engage in the business, conduct more than 750 hours of service each…

Property Insurance

Property insurance protects property from unforeseeable loss or damage and covers property owners' liability. Property insurance provides financial compensation to the property owner or renter in the event of damage or theft, as well as to someone other than the owner or renter if that person is injured on the property. Property insurance covers all risks of damage caused by theft, fire, flood, cyclones, lighting, and natural calamities, among other things. The primary goal of property insurance is to require the property owner to cover the loss. A monthly premium is paid to the insurance company, and in exchange, the insurance company pays for damage based on the agreement stated in the policy. Property insurance protects assets such as a vehicle, auto, car, rental home, house, and valuable property.