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1 ) Larry recently had a fire at his home. The fire caused about $ 2 0 , 0 0 0 of damage to the
Larry recently had a fire at his home. The fire caused about $ of damage to the dwelling. The garage which was detached was valued at $ was totally destroyed but did not have the car in it at the time of the fire. Replacement of Larrys personal property damaged in the home and garage amounted to $ In addition $ in cash and a baseball card collection valued at $ were destroyed. During the time the damages were being repaired, Larry stayed in a motel for one week and spent about $ on food and lodging. The house had a value of $ and was insured for $ under an HO policy with a $ deductible. Use table on page to answer the following questions:
A Assuming that the deductible was applied to the damage to the dwelling, calculate the amount covered by insurance and the amount Larry must pay for each loss listed: the dwelling, the garage, the cash and baseball card collection, and the extra living expenses.
B How much of the amount of personal property loss would be covered by the insurance policy? Paid for by Larry?
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