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Santos Family Assume Anna Santos owns the ISO HO-2 policy described in this chapter. The limits are as follows: ABCDEL = $350,000 $35,000 $175,000
Santos Family Assume Anna Santos owns the ISO HO-2 policy described in this chapter. The limits are as follows: ABCDEL = $350,000 $35,000 $175,000 $105,000 F $100,000 $1,000 The replacement cost of Ashley's home is $320,000, the contents are valued at $185,000. Your assignment is to compute the amount Ashley will collect in each of the following circumstances. (Assume each event occurs separately.) 1. Anna's house and all its contents are destroyed by a fire. It takes 6 months to rebuild the home, and Anna's additional living expenses amount to $25,000. 2. Anna's unattached garage burns, destroying the garage (damage = $27,000), the lawn-care equipment inside (damage = $2,500), and her car (ACV-20,000) 3. Anna's elderly mother puts a turkey in the oven and forgets about it while cooking. The oven catches on fire. The fire causes $4,000 damage to her kitchen. The fire department breaks down the door which costs $1,000 to replace. The fire department successfully extinguishes the fire, but the floor needs to be replaced. It costs $4,000 to replace the floor. It costs her an additional $220 a day for 40 days for her family to live in a hotel while her kitchen is being rebuilt. Her mortgage is $2,000 a month. It costs her family $150 a day to eat out while meals at home cost $40 a day.
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