Question 6 Chris has a HO-3 policy that provides $300,000 of insurance on his dwelling, which has a current replacement value $500,000. Ignoring any deductible, how much will Chris collect if he suffers a covered loss to the dwelling with a replacement value of $60,000 but an actual cash value of $30,000? $30,000 $45,000 $48,000 $60,000 1 pts 4 Question 1 1 pts All of the following statements concerning a personal auto policy's (PAP's) Part A- Liability coverage are correct EXCEPT: O Part A of the PAP provides payment for the medical expenses of an insured as a result of an automobile accident. Part A of the PAP provides liability protection to any insured that is legally responsible for an automobile accident. O Part A of the PAP excludes protection to an insured's owned property. O The insurer retains the right to defend or settle any claim or suit, and any settlement and defense costs are paid in addition to the policy limits. D Question 2 1 pts All of the following statements concerning personal umbrella liability insurance are correct EXCEPT: O The personal umbrella policy is designed primarily to provide liability coverage for catastrophic legal claims or judgments. O The personal umbrella policy requires the policyowner to carry certain underlying liability coverages of specified minimum amounts on both the homeowner's policy and the PAP. Personal umbrella liability insurance never provides personal injury coverage for acts such as defamation of character. A claim made under an umbrella policy will pay only after the limits of the relevant underlying policy are exhausted