Beth and jerry own a residential home valued at approximately $250,000. while they were away on vacation
Question:
Beth and jerry own a residential home valued at approximately $250,000. while they were away on vacation Lightning struck their house causing a large fire that would approximately $125,000 of damage to the home their homeowners insurance policy was up-to-date and they had proper damage limits in their coverage areas due to the damage to their home which included most of their furniture electronic devices televisions personal clothing and their appliances they also have to live in temporary housing until their house is repaired which is estimated to be 10 months which coverage area of their homeowners policy will provide the coverage for their loss including their housing be specific and state why are you selected your answer with examples provided?
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young