How Would You Respond If The Computer You Are Insuring Is The Subject Of A Lease Agreement Or A

How would you respond if the computer you are insuring is the subject of a lease agreement or a maintenance plan?

Select one:

a.

Advise the insured to cancel the agreement.

b.

Ignore the agreement.

c.

Let the agreement stand as is, and leave your policy cover unchanged and the premium the same.

d.

Establish the terms of the agreement, adjust your policy cover to exclude what is covered under the agreement and reduce your premium.

Expert Answer

This solution was written by a subject matter expert. It’s designed to help students like you learn core concepts.

Step-by-step

I’m not an insurance professional, but I can offer some general information on how insurance might be affected by lease agreements or maintenance plans for a computer.

Explanation:

It’s important to note that specific actions may vary depending on the insurance provider and the terms of the agreement. Generally:

d. Establish the terms of the agreement, adjust your policy cover to exclude what is covered under the agreement, and reduce your premium.

It’s typically a good practice to ensure that your insurance coverage aligns with any existing agreements or plans in place for the computer.

Explanation:

By doing so, you can avoid redundant coverage and potentially reduce your insurance premium. However, it’s essential to communicate with your insurance provider to make sure you’re complying with their requirements and that you’re adequately covered for any potential risks that might not be

addressed by the lease or maintenance plan. Always consult with a qualified insurance professional to get advice tailored to your specific situation.