41 (1 point) Owen owns a home that suffers a flooded basement in a recent thunderstorm. Owen's TV was heavily damaged and was determined to not be repairable and must be replaced. The TV was only 1 year old and a typical TV of this quality should have lasted Owen 5 years. To replace the TV with something of like kind and quality is going to cost Ken $2,000. If the policy that Owen has is based on actual cash value, how much should Owen expect for his TV? $400 $0 $1,600 $2,000 

Answer rating: 100% (QA)

If Owens policy is based on actual cash value it means the insurance company will pay for the TV bas... View the full answer