5. Todd has his home and personal property insured under a Homeowners 3 (special form) policy. The dwelling is insured for $120,000. The replacement cost of the home is $200,000. Indicate the extent to which each of the following losses would be covered under Toddâs Homeowners 3 policy. (Ignore the deductible.)
Lightning strikes the roof of the house and severely damages it. The actual cash value of the damaged roof is $10,000, and it will cost $16,000 to replace the damaged portion. A living room window is broken in a hailstorm. The drapes are water stained and must be replaced. The actual cash value of the damaged drape is $400. Replacement cost is $600. The water heater explodes and damages some household contents. The actual cash value of the damaged property is$2000, and the cost of replacing the property is $3200.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “5. Todd has his home and personal property insured under a Homeowners 3 (special form) policy. The dwelling is insured for $120,000. The ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Your uncle comes to you with an investment idea. He tells you that the nominal GDP of Paradisia quadrupled over the past year and suggests that you invest there. Unemployment is at 20 percent and inflation over the last year was 500 percent.
Answers (2)
What time of day would you most likely expect thunderstorms to occur on a mountain?
Answers (1)
Nathan buys a new microwave for $200. The microwave's label bears a disclaimer that the manufacturer is not liable for consequential damages.
Answers (1)
Mr. jernigan owns a piece of land on which he grows corn. corn production annually requires $2 comma 0002,000 in seed, $3 comma 0003,000 in fertilizer, and $6 comma 0006,000 in pesticides. mr.
Answers (1)
Due to the decrease in the level of water in the lakes of Chapel Hill, the local government wants to reduce the consumption of tap water.
Answers (1)
New Questions in Business
On January 1, Kirk Corporation had total assets of $851,000. During the month, the following activities occurred: Kirk Corporation acquired equipment costing $6,100, promising to pay cash for it in 60 days.
Answers (1)
Antonio derives more utility from spending an additional dollar on boots than on gloves. We can assume that: a. the marginal utility per dollar spent on boots is greater than the marginal utility per dollar spent on gloves. b.
Answers (1)
Which profession is most likely to be concerned with the effect of supervisors management styles?
Answers (1)
The primary goals of inventory managers are to maintain a sufficient quantity of inventory to meet customers' needs, ensure inventory quality meets customers' expectations and company standards, and minimize the cost of acquiring and carrying an
Answers (1)
Stacy Hanes is an African-American woman who has recently taken her first job and does not seem to like the work environment at all, Her colleagues put down her ideas at team meetings and refer to them as "stupid.
Answers (1)