Example 3 Under-Reporting Values Limit of Insurance: $2,000,000 Reporting Period: Monthly (MR) Value Last Reported: $1,000,000 Actual Value at the time of the Report: $1,500,000 Amount of Loss: $600,000 Deductible: $1,000 O $600,000 $1,000,000 $399,000 0 $400,000 Example 3 Under-Reporting Values Limit of Insurance: $2,000,000 Reporting Period: Monthly (MR) Value Last Reported: $1,000,000 Actual Value at the time of the Report: $1,500,000 Amount of Loss: $600,000 Deductible: $1,000 O $600,000 $1,000,000 $399,000 0 $400,000