megan and her brother marco have a side business where they shop at flea markets, garage sales, and estate sales to find desirable items, fix them up, and then resell them online for much higher prices. megan’s apartment is broken into and items valued at $2500 are stolen. how much would her renters insurance cover?
How much would Megan’s renters insurance cover?
In this scenario, Megan’s renters insurance would typically cover stolen items up to a certain limit stated in the policy. The coverage amount may vary depending on the specific policy and any deductibles that apply. If Megan’s renters insurance policy covers theft and the stolen items are valued at $2500, she would be able to file a claim with her insurance company.
Once Megan files a claim, the insurance company would assess the situation and, assuming the claim is approved, would provide her with compensation for the stolen items, up to the coverage limit specified in her policy. If the policy has a deductible, Megan would be responsible for paying that amount, and the insurance would cover the rest, up to the policy limit.
It’s important for renters like Megan to review their insurance policies carefully to understand the coverage limits, any deductibles, and the process for filing a claim in case of theft or other covered events.