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Bob has homeowner's policy with Coverage C limit of liability of $5,000. The residence premises is located at 5151 Hardy Street in Memphis, Tennessee. Bob
Bob has homeowner's policy with Coverage C limit of liability of $5,000. The residence premises is located at 5151 Hardy Street in Memphis, Tennessee. Bob has a cottage that is located in close proximity to the gulf coast. Unless Bob goes fishing, he keeps his fishing gear at the residence premises. Bob furnished the cottage with a couch. This item is in the cottage at all times. Bob decides to spend the weekend at his cottage. He takes his fishing gear with him. While hiking, the cottage burns to the ground. The ACV of the fishing gear was $200. The ACV of the couch was $2,000. How much will Bob collect under the homeowner's policy for these items? To receive any credit, you must explain how you arrived at your answer. (4pts)
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