James has an unendorsed HO-3 homeowners policy with a limit on Coverage A of $150,000, Coverage...
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James has an unendorsed HO-3 homeowners policy with a limit on Coverage A of $150,000, Coverage B of $15,000, Coverage C of $75,000, Coverage D of $30,000, Coverage E of $100,000, and Coverage F of $5,000. The replacement cost of the dwelling is $200,000. For each item explain whether or not it will be covered by James' Homeowners Insurance. Make sure to identify which part of the policy applies and how much will be paid. Ignore any deductibles. A major fire damages the house and its contents. An expensive watch with an appraised value of $12,000 and an actual cash value of $9,000 was destroyed. The watch was insured on a separate personal articles policy but only for $6,000, its value when James acquired it many years earlier. The fire also destroyed James' collection of vintage baseball cards valued at $18,000. A television with a replacement cost of $1,000 and an actual cash value of $400 was destroyed, too. James has an unendorsed HO-3 homeowners policy with a limit on Coverage A of $150,000, Coverage B of $15,000, Coverage C of $75,000, Coverage D of $30,000, Coverage E of $100,000, and Coverage F of $5,000. The replacement cost of the dwelling is $200,000. For each item explain whether or not it will be covered by James' Homeowners Insurance. Make sure to identify which part of the policy applies and how much will be paid. Ignore any deductibles. A major fire damages the house and its contents. An expensive watch with an appraised value of $12,000 and an actual cash value of $9,000 was destroyed. The watch was insured on a separate personal articles policy but only for $6,000, its value when James acquired it many years earlier. The fire also destroyed James' collection of vintage baseball cards valued at $18,000. A television with a replacement cost of $1,000 and an actual cash value of $400 was destroyed, too.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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