Question
Jim's house was damaged when lightning struck his roof. The cost to fix the home will be $30,000. He carries an HO-3 policy with a
Jim's house was damaged when lightning struck his roof. The cost to fix the home will be $30,000. He carries an HO-3 policy with a $500 deductible. If the home is insured for $200,000 and the replacement value is $180,000, how much will Jim's reimbursement from the insurance company be?
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Analysis for Financial Management
Authors: Robert c. Higgins
8th edition
73041807, 73041803, 978-0073041803
