Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Carmen Viers lost everything to a fire and has spent the last eight weeks living in a motel room at a cost of $4,236. Her

image text in transcribed

Carmen Viers lost everything to a fire and has spent the last eight weeks living in a motel room at a cost of $4,236. Her dwelling, which was destroyed as a result of a lightning strike, was insured with an HO-2 policy for $194,727. Prior to the loss, her home was valued at $224,000, her detached garage and poolhouse were valued at $30,558, and her personal property had an actual cash value of $68,540. To make matters worse she sustained $10,000 in injuries while trying, unsuccessfully, to save her three Greyhound dogs valued at $6,000 each. How much of her total losses and expenses will be reimbursed if she has a $1,000 deductible

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

Step: 3

blur-text-image

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

Financial Institutions Management A Risk Management Approach

Authors: Anthony Saunders, Marcia Cornett

7th Edition

0073530751, 9780073530758

More Books

Students also viewed these Finance questions