Question
Tonya and Jack have a HO-B policy on their home. Their coverages are as follows: Dwelling $53,000.00, other Structures $5,300.00, and contents $30,000. The home
Tonya and Jack have a HO-B policy on their home. Their coverages are as follows: Dwelling $53,000.00, other Structures $5,300.00, and contents $30,000. The home sustained damage from the Hurricane in the amount of $32,000. Their detached garage sustained damage In the amount of $5,200.00, and their contents sustained damage in the amount of $28,000.00. They also had a 40ft oak tree that was damaged. The oak tree is valued at $250.00. Without applying depreciation, how much of their loss will be paid under the structure coverage. The clause 1 deductible is $700.00 and the clause 2 deductible is 1%.
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