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Fox Auto Dealer filed a report to its insurer showing auto values of $3 million. However, the actual value of the dealer's autos was $4
Fox Auto Dealer filed a report to its insurer showing auto values of $3 million. However, the actual value of the dealer's autos was $4 million. The dealer then had a $500,000 loss from a covered cause of loss. Disregarding any deductible that might apply, how much would the insurer pay for the loss under the comprehensive coverage of the Auto Dealers Coverage Form? Select one: A. Nothing B. $300,000 C. $375,000 D. $500,000
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