Which One of the Following Statements Concerning Homeowners' Insurance Is

question 55

Multiple Choice

Which one of the following statements concerning homeowners' insurance is false?

• A)Your property away from home is generally not covered under your homeowners' policy.
• B)There are generally policy limits on specific contents like silverware and jewelry.
• C)Homeowners' insurance generally covers additional living expenses if your home is uninhabitable due to a covered loss.
• D)Increasing your deductible is generally a beneficial method for reducing your insurance premiums.

---

Definitions:

Tariff Revenue

Income that a government collects from imposing duties on imported goods.

Consumer Surplus

The divergence between the amount consumers are willing to pay for a product or service and the amount they actually pay.

Producer Surplus

Producer surplus is the difference between what producers are willing to accept for a good compared to what they actually receive, usually measured by the area above the supply curve and below the market price.

Total Surplus

The aggregate net advantage to society, encapsulated by both consumer and producer surplus within a market.