Where a Building,insured Against Fire,burns to a Source of Fire

question 38

True/False

Where a building,insured against fire,burns to a source of fire totally unforeseen by the insured and the insurer,no obligation to indemnify rests upon the insurer.

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Definitions:

Variable Expenses

Expenses that depend on the number of items produced, such as raw materials.

Utility Bills

Invoices sent by service providers (water, gas, electricity) to consumers for the consumption of utilities.

Entertainment Costs

Expenses incurred for activities related to enjoyment, such as movies, sports events, and concerts.

Net Worth

The difference between a person’s assets (what is owned) and that person’s liabilities (what is owed).