A tenant with this insurance policy suffers a substantial loss due to lightning strike and an apartment fire that erupts as a result of that storm. The tenant should take each of the following steps as soon as possible EXCEPT…*1 pointCall the insurance company and report the loss and damagesSign up for additional renters insurance, as this coverage has now been “used up” and will expireDivide property into “damaged” and “undamaged” categories and submit a thorough list of everything “damaged”Provide receipts, when available, for damaged items, costs associated with living elsewhere, and costs of doing any self-repair on the rental property

What happens if the insured tenant and the insurance company fail to agree on the amount of loss?*1 pointEither the tenant or the company can request an appraisal, so that an impartial third party determines the amount of lossThe insurance policy becomes null and voidThe insurance company is forced to pay the current online market price for the itemThe landlord or owner of the building must make up the difference in the disputed value

Renter’s insurance is not required, but a good idea because: athe renter would be liable for their possessions if the rental unit caught on fire bthe landlord’s insurance does not cover the renter’s personal property clandlords do not need to carry insurance policies that replace the tenant’s property dAll of the above

The insured person must prepare a report, outlining full details of the loss including all items destroyed, damaged, or stolen and their actual cash value, within...*1 point24 hours1 week60 days180 days

Protects businesses from damages to othersSelect the correct termRisk assessmentPublic liability insuranceWorksafe insurancePremium

The insurer should carefully examine the contract to understand the extent of the insurer's obligation, including the exemption and exclusion clauses, and conduct that may limit the insured's right to be indemnified.Choose matching termUnderstanding your insurance policySections of the Employment Standards CodeGeneral damages.Torts and criminal law20 of 20