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Identify and Briefly Explain Three Reasons Why Property Insurance Very

question 7

Essay

Identify and briefly explain three reasons why property insurance very often does not provide full indemnification, in the sense that it does not provide the insured with enough money to buy a replacement for a lost or destroyed piece of property.


Definitions:

Latin Root

The base of a word derived from Latin, often used to understand the origin and meaning of English words.

Biological Drives

Innate impulses that direct or motivate behavior to satisfy physiological needs, such as hunger, thirst, or reproduction.

Extrinsic Motivation

Refers to motivation that comes from external factors or rewards, such as money, fame, grades, and praise, rather than internal desire or interest.

Unpleasant Situation

A scenario or condition that is disagreeable or uncomfortable for the individuals involved.

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