Question
Homeowner's Insurance: They have an HO3 policy for $195,000. The deductible is $250 and they have no endorsements. The fire that damaged the home also
Homeowner's Insurance: They have an HO3 policy for $195,000. The deductible is
$250 and they have no endorsements.
The fire that damaged the home also destroyed much of their personal property. While the depreciated or actual cash value of all their ruined furniture/property is $5,000, it would cost the Florio's about $37,000 to replace all of their lost property. How much will the insurance company pay for this loss?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Macro Economy Today
Authors: Bradley R. Schiller, Karen Gebhardt
14th edition
1259291820, 978-1259291821
