Question: Computing Claims When Carolinas house burned down, she lost household items worth $50,000. Her house was insured for $160,000 and her homeowners policy provided coverage

Computing Claims When Carolina’s house burned down, she lost household items worth $50,000. Her house was insured for $160,000 and her homeowner’s policy provided coverage for personal belongings up to 55% of the insured value of the house. Calculate how much insurance coverage Carolina’s policy provides for her personal possessions and whether she will receive payment for all of the items destroyed in the fire.

Step by Step Solution

★★★★★

3.38 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Solution Computation of the following Multiply the house insurance value 160000 by ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

68-B-A-F-S (3094).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

How much would a homeowner receive with actual cash-value coverage and with replacement cost coverage for a 3-year-old sofa destroyed by a fire? The sofa would cost $1,000 to replace today, whereas...

How does medical payments coverage under an auto insurance policy work? Why is medical payments coverage valuable even if you have a good health insurance plan?

How does accident benefits coverage under an auto insurance policy work? What is uninsured motorist coverage? How does it work?

6. Computing Claims. When Carolina's house burned down, she lost household items worth a total of $50,000. Her house was insured for $160,000 and her homeowner's policy provided coverage for personal...

Computing Claims. When Carolinas house burned down, she lost household items worth a total of $50,000. Her house was insured for $160,000 and her homeowners policy provided coverage for personal...

6. Computing Claims. When Carolinas house burned down, she lost household items worth a total of $50,000. Her house was insured for $160,000 and her homeowners policy provided coverage for personal...

Bodily Injury Liability: Covers financial loss due to legal expenses, medical expenses, lost wages, etc. associated with injuries caused by an accident for which you were responsible. Expressed as 3...

1.) For each of the following situations, what amount would the insurance company pay? a.) Wind damage of $845; the insured has a $500 deductible. Note: Leave no cells blank - be certain to enter "0"...

you have completed so far. It does not indicate completion 1 When Carolina's house burned down, she lost household items worth a total of $135.000 Her house was insured for $250 000 and her...

A European Airliner has purchased a jumbo jet from an American company Boeing for Euro 273.311 million. Boeing is expecting to receive payment on July 5th. The current exchange rate is $1.3808 / Euro...

Write a program that reads an unknown number (but no more than 100) of integer values from a file (ass5_Q4_input.txt), and displays distinct number. (i.e. if number appears multiple time, it is...

En esta semana se presenta un estudio comparativo de los resultados obtenidos de una serie de pruebas de rendimiento entre MongoDB contra PostgreSQL. Los resultados finales indican que, si bien...

What type of organizational culture needs to be developed by a company such as Link_A_Media Devices for long-term success?

Bad-Debt Reporting Issues Valasquez Company sells office equipment and supplies to many organizations in the city and surrounding area on contract terms of 2/10, n/30. In the past, over 75% of the...

Sale of Notes Receivable Corrs Wholesalers Co. sells industrial equipment for a standard 3-year note receivable. Revenue is recognized at time of sale. Each note is secured by a lien on the equipment...

Zero-Interest-Bearing Note Receivable On September 30, 2009, Rolen Machinery Co. sold a machine and accepted the customers zero-interest-bearing note. Rolen normally makes sales on a cash basis....

All rates are annual. The one-year zero coupon rate is 4%. The two year zero-coupon rate is 4.5%. The three year zero-coupon rate is 4.25%. The price of a three-year 3% coupon bond with the face...

#3 Question # 3 Robert is conducting a hypothesis test concerning a population mean. The hypotheses are as follows. Ho:M = 50 H : H > 50 He selects a sample of size 35 and finds that the sample mean...

Programming Assignment 2 NBAfx