Many types of properties are covered by homeowner's policies. These policies also define the types of losses they cover and the persons and the locations covered. There are three types of property-related losses when misfortune occurs. Which one of the following is Not out of those losses?

Question

Quizplus · Accepted Answer

Replacement cost is not a type of property-related loss. It refers to the amount of money needed to replace or repair the damaged property. The three types of losses covered by homeowner's policies are direct loss of property, indirect loss occurring due to damaged property, and additional expenses occurring due to direct and indirect losses.

Many Types of Properties Are Covered by Homeowner's Policies