Krugman's Economics For The Ap® Course
3rd Edition
ISBN: 9781319113278
Author: David Anderson, Margaret Ray
Publisher: Worth Publishers
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Question
Chapter P8, Problem 4RQ
To determine
The person who needs renter’s insurance, and the reason why it is a good idea.
Expert Solution & Answer
Explanation of Solution
Landlords and homeowners should have renter’s insurance if they can afford it as it provides insurance that covers the repair and replacement of property due to damage or theft along with personal belongings such as clothes, jewelry, etc. It covers accidents in a residence too by charging affordable annual premiums. But most people (renters) do not buy a renter’s insurance policy as they consider it unnecessary.
Renters' insurance is a good idea as it can help owners to repair or replace property after any accident, damage, or loss. And, it is available at very affordable premium rates which makes it easy for renters to buy insurance. Moreover, this insurance also includes liability coverage under which the renter can get medical payments if someone is injured in his/her home or apartment, or if the renter accidentally (unintentionally) injured someone.
Economics Concept Introduction
Introduction: Renters’ insurance is a type of insurance that assist renters to insure their personal belongings while they rent their apartments, houses, or other properties.
Chapter P8 Solutions
Krugman's Economics For The Ap® Course
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