A dwelling with a replacement cost of $200,000 was insured under
a Homeowners 3 policy for $180,000 at the time the roof was
destroyed by a windstorm. The actual cash value of the loss was
$9,000, but it will cost $12,000 to replace the roof. Ignoring any
deductible, what will the insurer pay to settle this loss?
$8,000
$9,000
$10,000
$12,000
A dwelling with a replacement cost of $200,000 was insured under a Homeowners 3 policy for $180,000 at the time the roof
-
answerhappygod
- Site Admin
- Posts: 899604
- Joined: Mon Aug 02, 2021 8:13 am
A dwelling with a replacement cost of $200,000 was insured under a Homeowners 3 policy for $180,000 at the time the roof
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!