Question

When shopping for renter's insurance, which values are you likely to adjust from the standard coverage that would affect the amount of your monthly bill?

a) Deductible
b) Coverage limits
c) Policy type
d) All of the above

Answer 1

When shopping for renter's insurance, adjusting the deductible, coverage limits, and policy type can affect the amount of the monthly bill. Therefore, the correct answer is d) All of the above.

Step-by-step explanation:

When shopping for renter's insurance, the values that you are likely to adjust from the standard coverage that would affect the amount of your monthly bill include the following:

1. Deductible: This is the amount of money you have to pay out-of-pocket before the insurance company starts covering the costs. A higher deductible leads to a lower monthly bill.
2. Coverage Limits: This refers to the maximum amount that the insurance company will pay for a claim. If you choose higher coverage limits, your monthly bill will be higher.
3. Policy Type: Different policy types offer varying levels of coverage and benefits. Some policies may have additional features that increase the monthly cost.

Therefore, the correct answer is d) All of the above.