For Peter's New Home, a Personal Property Floater Allows Him

question 117

Multiple Choice

For Peter's new home, a personal property floater allows him to

• A)reduce the amount of deductible in his insurance claims.
• B)extend the grace period of insurance premium payment.
• C)get paid the replacement cost in the events of insurance claims.
• D)extend his new home's insurance policy to itemize some expensive assets.

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Definitions:

Commits a Tort

Engaging in an act that causes harm or injury to another person, leading to legal liability under civil law.

Term Partnership

A specific partnership established for a predetermined duration or until a project is completed.

Wrongfully Dissociates

An unjust separation or withdrawal from a partnership or association that breaches an agreement or expectation.

Buyout Price

The amount of money agreed upon for the purchase of a company's stock or assets by another entity or by its own shareholders.