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On November 1-2, 2022, a winter storm occurred and caused the damage listed below. The claim has yet to be settled and Al would like
On November 1-2, 2022, a winter storm occurred and caused the damage listed below. The claim has yet to be settled and Al would like you to estimate the amount the insurer would pay on the loss, according to the various policy forms. Use the policy forms to determine whether each loss amount is covered, and the dollar amount of coverage, along with commenting on the total amount payable by the insurer according to the policy forms. - Building damage: Total damage $60000 from the weight of the snow and ice, including roof damage, and damage to permanently installed machinery and flooring that needed to be replaced. At the time of the loss, the building was valued at $750,000. Along with the building damage listed above some of the underground pipes froze. The cost to replace the length of pipe that froze and cracked is $25,000. - Personal Property damage: Ice and snow caused power lines to collapse, and the electricity to Al's was shut off for 72 hours. Since Al couldn't maintain heat, 98 cases of beer (i.e., stock) to be sold were ruined when cans malformed replacement cost $4800. When the pipes froze, there was $6500 worth of damage (i.e., replacement cost) occurred to personal property that is defined as covered property. The actual cash value of the property was $2500. Finally, from the weight of the snow and ice there was $5000 damage to fences, trees, shrubs, plants
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