Various types of losses incurred by a decedent’s estate were as follows: Loss due to typhoon, a day before the decedent’s death, P1,000,000 Loss due to shipwreck, 6 months after the decedent’s death, 500,000 Loss due to robbery, 1.5 years after the decedent’s death, 2,000,000 Gambling losses before death, 2,250,000 How much is the deductible losses from the gross estate of the decedent? 1,500,000 2,250,000 500,000 2,500,000

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Q: answer must be in proper format or i will give down vote

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A:

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Q: None

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Q: 1

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Q: 59

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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.