Pedro owns a sixplex apartment building and lives in one unit. The building is insured under the
Question:
a. A fire occurs in one of the apartments because of defective wiring. The actual cash value of the damage is $20,000, and the replacement cost is $24,000.
b. The tenants move out because the apartment is unfit for normal living. It will take three months to restore the apartment to its former condition. The apartment is normally rented for $900 monthly.
c. A tenant's personal property is damaged in the fire. The actual cash value of the damaged property is $5000, and its replacement cost is $7000.
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a Dwelling Property 1 covers the loss of the dwelling ...View the full answer
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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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