Jerry Carter's home is currently valued, on a cost basis, at $315,000. When he last checked his policy, his home was insured for $235 000, and he did not have an inflation guard If he has a s25,500 claim due to a kitchen fire, how much will his homeowner's insurance policy pay? How much will he be paid if his home is totally destroyed? In order to obtain full replace ment coverage, how much insurance should Jerry carry on his house?

Answer rating: 100% (QA)

A proportionate amount will be paid as compensation for loss Comp... View the full answer