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Stewart owns a home with a replacement cost of $300,000. He purchased $200,000 of property insurance on the house with a $1,000 deductible for all
Stewart owns a home with a replacement cost of $300,000. He purchased $200,000 of property insurance on the house with a $1,000 deductible for all losses. The house caught on fire and sustained $100,000 worth of damage. The actual cash value of the damaged portion of the property was $80,000. Calculate the amount Stewart will receive as reimbursement for the loss. o A. $82,333 o B. $99,000 O C. $200,000 O o D. $300,000
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