What Would Be the Main Benefit to Peter on the Option

question 1

Multiple Choice

What would be the main benefit to Peter on the option of including a personal property floater in his insurance policy?

• A)Reduce the amount of deductible in his insurance claims.
• B)Extend liability insurance protection to his boat and secondary properties.
• C)Receive replacement cost coverage in the event of insurance claims.
• D)Extend his homeowner's insurance policy to cover certain expensive assets.

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Definitions:

Expected

Refers to the predicted outcome or value in probability and statistics, often based on theoretical or historical data.

Nonparametric Statistics

Distribution-free statistics that do not require the same assumptions as do parametric statistics.

Distribution-free

Refers to statistical methods that do not rely on assumptions about the specific distribution of the data.

Categories

Distinct groups or classes into which data or items can be divided based on shared characteristics or qualities.