Bills house and all its contents are destroyed by a tornado. It takes six months to rebuild
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Bill’s house and all its contents are destroyed by a tornado. It takes six months to rebuild the home, and Bill’s additional living expenses amount to $12,000.
Assume Bill Clanton owns the ISO HO-2 policy described in this chapter and reproduced in Appendix A. The limits are as follows:
A = $ 120,000
B = $ 12,000
C = $ 60,000
D = $ 24,000
E = $ 100,000
F = $ 5,000
A $250 deductible applies to Section I, Coverages A through D. The replacement cost of Bill’s home is $130,000, the contents are valued at $70,000, and the home is 30 percent depreciated.
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Related Book For
Introduction to Risk Management and Insurance
ISBN: 978-0131394124
10th edition
Authors: Mark S. Dorfman, David Cather
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