A dwelling with a replacement cost of $200,000 was insured under a Homeowners 3 policy for $180,000 at the time the roof
Posted: Thu May 05, 2022 8:02 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 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 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