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Question: Reimbursement on property damage Lorenzo recently purchased a $90,000 broad form HO-2 policy with no deductible. A year later, his roof is damaged by
Question: Reimbursement on property damage
Lorenzo recently purchased a $90,000 broad form HO-2 policy with no deductible. A year later, his roof is damaged by a fire and he suffers a loss of $72,000.
If the replacement value of Lorenzos house is 150,000 and the insurance policy includes a replacement cost requirement of 80%, he will receive a reimbursement of _____
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