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 renter’s insurance cover if items valued at $2500 are stolen from her apartment?
Answer:
In this scenario, if Megan’s renter’s insurance policy covers stolen items, it will typically provide coverage up to a certain limit. Renter’s insurance usually covers personal belongings up to a certain dollar amount, such as $20,000 or $30,000, depending on the policy.
If the stolen items are valued at $2500 and this amount falls within the coverage limit of Megan’s renter’s insurance policy, then her insurance would cover the full value of the stolen items, which is $2500 in this case. However, if the stolen value exceeds the coverage limit, she may only receive the maximum amount specified in her policy, and she would be responsible for the remaining amount.
It’s essential for Megan to review her renter’s insurance policy to understand the coverage limits and any specific terms related to theft or stolen items to determine the exact amount her insurance would cover in this situation.