The amount of a loss on insured personal use property is reduced by the insurance coverage if no claim is made against the insurer.

Question

Quizplus · Accepted Answer

This is true because insurance coverage is intended to offset the financial loss incurred by the insured in the event of damage or destruction to the insured property. Therefore, if no claim is made against the insurer, the insured still benefits from the coverage in the form of reduced personal loss.

The Amount of a Loss on Insured Personal Use Property