When insuring property, people need to consider not only replacing and restoring the actual property in the event of a loss, but also the:
A)liability arising from the insured's responsibility for property loss.
B)construction cost of the property.
C)home equity in the property.
D)excess compensation claim for loss to the property.
E)time used to construct objects.

Question

Quizplus · Accepted Answer

Liability arising from the insured's responsibility for property loss is a key consideration when insuring property, as it covers the costs associated with damages or injuries to others for which the insured may be held responsible.

When Insuring Property, People Need to Consider Not Only Replacing