Question
Lonnie and Paula have a homeowner's policy with $75,000 coverage and a $250 deductible. Their home recently suffered extensive fire damage in the amount of
Lonnie and Paula have a homeowner's policy with $75,000 coverage and a $250 deductible. Their home recently suffered extensive fire damage in the amount of $50,000. Assuming the replacement value of the home was $85,000, how much will the insurance company pay on this loss?
a. $74,750 b. $50,000 c. $49,750 d. $44,750
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Principles Of Investments
Authors: Alan Marcus, Zvi Bodie, Michael Drew, Anup Basu, Alex Kane
1st Edition
0071012389, 978-0071012386
