Ken and Beverly Austin Homeowner insurance Needs

Homeowners (HO) Insurance: Basic Forms Available
HO-2 Broad Form (named perils)
HO-3 Special From (open perils)
HO-4 Tenants and Renters
HO-5 Comprehensive For (open period parts A, B, C, and D)
HO-6 Condominium Owners
HO-8 Modified Form for Special Risks
Austin's Renters Insurance
Type	HO-4
Contents coverage	$35,000
Premium (annually)	$600
Deductible	$250
Liability	$100,000
Medical payments (per person0	$1,000
Depreciated or actual cash value of the Austin's property	$5,000
The fire that destroyed the apartment building, also destroyed all of their personal property. Although the depreciated or actual cash value of all the property is $5,0000. It should cost the Austin's about $37,000 to replace all of their lost items.	$37,000
1, How much will the insurance company pay for the Austin's loss?
How much will the insurance company pay for the Austin's loss?
Actual cash value less the deductible = How much the insurance company will pay
2. Does the Homeowner's Insurance cover some of the Austin's loss?
Had the endorsement to the renters policy for replacement cost been added to the Austin's policy, the insurance company would have pad the replacement cost of the pro4ety; less a deductible, up to stated limits.
3. If the Homeowner's insurance does not cover the Austin's loss. What type of Homeowner's insurance would have covered the value of all of their personal property?