Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Andre has an unendorsed HO-3 policy. His roof is torn off by a tornado. His limit on Coverage A is $100,000. RC of the roof

image text in transcribed
Andre has an unendorsed HO-3 policy. His roof is torn off by a tornado. His limit on Coverage A is $100,000. RC of the roof is $25,000, and ACV of the roof is $22,000. RC of the covered contents damaged is $65,000, and ACV of the contents is $55,000. Ignoring the effect of any deductible, how much will his insurer pay for this loss? Please show your work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Auditing Fundamentals And Techniques

Authors: J. Ladd Greeno

2nd Edition

091509410X, 978-0915094103

More Books

Students also viewed these Accounting questions