Question
A dwelling with a replacement cost of $150,000 was insured under a HO-3 policy for $100,000 at the time the roof was destroyed by a
A dwelling with a replacement cost of $150,000 was insured under a HO-3 policy for $100,000 at the time the roof was destroyed by a windstorm. The actual cash value of the loss was $9,000, but it will cost $12,000 to replace the roof. Assuming no deductible, what will the insurer pay to settle this loss?
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Fundamentals Of Investments Valuation And Management
Authors: Bradford D Jordan, Thomas W. Miller Jr., Steven D. Dolvin
6th Edition
0073530719, 9780073530710
