Paul has his home and its contents insured under a Homeowners 3 (special form) policy. He carries
Question:
a. Paul's stamp collection, which is valued at $5000, is stolen from his home.
b. Teenage vandals break into Paul's home and destroy a painting that has a market value of $1000.
c. A motorboat stored in the driveway of Paul's home is badly damaged during a hailstorm. The actual cash value of the damaged portion is $8000, and its replacement cost is $20,000.
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Related Book For
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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