Question

Finn moves from a rented apartment into his very first house. What should he expect regarding the cost of homeowners insurance compared to renters insurance? a. He will not need homeowners insurance since owning a home is less risky than renting b. His homeowners insurance will be LESS expensive than his renters insurance was c. His homeowners insurance will be the same cost as his renters insurance was d. His homeowners insurance will be MORE expensive than his renters insurance

Answer 1

Finn should expect his homeowners insurance to be more expensive than his renters insurance due to the additional coverage for the home's structure. Option d is the answer.

Step-by-step explanation:

When Finn moves from a rented apartment into his very first house, he should expect that his homeowners insurance will be MORE expensive than his renters insurance. Homeowners insurance typically costs more because it provides broader coverage, not only protecting the possessions inside the home but also the physical structure of the home itself against a variety of perils. Renters insurance generally covers only the personal property within the rented space. House ownership comes with greater responsibility and risk, including the need to cover potential structural damage, which drives up the cost of insurance.