Question: How does the deductible affect the payment under replacement cost coverage? The deductible is subtracted from the actual cash value of the property. The deductible

How does the deductible affect the payment under replacement cost
coverage?
The deductible is subtracted from the actual cash value of the property.
The deductible is deducted from the replacement cost value.
The insured must pay the deductible before receiving any payment.
The deductible does not apply to replacement cost coverage.
How does the deductible affect the payment under replacement cost coverage?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

240 Payroll Accounting Chapter 7: Comprehensive Projects-Paper-Based Versions One-Month Project NOTE! Templates needed to complete these exercises, including one containing year-to-date payroll data,...

Q:

Mr . Xavier has a HO - 2 contract with $ 1 0 0 , 0 0 0 dwelling coverage, $ 5 0 , 0 0 0 personal property coverage, and a $ 5 0 0 deductible. The dwelling is 5 0 % depreciated. Sewage back up into...

Q:

PART 2: ESTATE PLANNING 1. Fill out the following table upon John's death. (10 pt.) Asset Probatory Asset Value Value included in estate Life insurance 1 $500,000 Life insurance 2 $50,000 Life...

Q:

Hi Katrina, I have another accounting problem I need your help with. It's similar to the one you did on 4/4/2016. The due date for this one will be 4/10/2016, Will you be able to help? See below...

Q:

QUESTION 1 Renter's insurance is relatively inexpensive & could be useful. True False 10 points QUESTION 2 Liability insurance insures against damage you do to another party. True False 10 points...

Q:

Question 1 1 Point Personal Injury liability coverage 1. is essentially the same thing as bodily injury coverage. 2. is automatically included in the Homeowners policy. 3. is available to business...

Q:

Question 1 1 Point Personal Injury liability coverage 1. is essentially the same thing as bodily injury coverage. 2. is automatically included in the Homeowners policy. 3. is available to business...

Q:

196 Personal Financial Planning Cases and Applications Textbook ?th Edition Today is January 1, 2011. Mary and Robert Trenticosta have come to you, a finan- cial planner, for help in developing a...

Q:

Please answer all questions Please, and thank you!!!! CASE Mary and Robert Trenticosta 196 Personal Financial Planning Cases and Applications Textbook 7th Edition Today is January 1, 2011. Mary and...

Q:

1. Which of the following is one of the standard additional perils that may be added to the Basic Fire Policy? (A) Insurrection (B) Rebellion (C) Revolution (D) Riot 2. Under the Basic Fire Policy,...

Q:

Collision coverage pays to repair the policyholder's vehicle Lenders and lessors typically require this coverage, and unless replacement cost coverage is taken, the insurance company will pay on ly...

Q:

Fill in the blanks with the correct terms from the word pool. Write your answer on your Math notebook. Monomial Literal Coefficient Numerical Coefficient Variable Algebraic Expressions Terms...

Q:

Answer the following questions using the data from Problem 14.69: a. Calculate the correlation coefficient for this sample. b. Using = 0.05, perform a hypothesis test to determine if the correlation...

Q:

Which of the following is NOT a feature seen in high yield bonds? Resettable coupons Payment - in - kind coupons Extendible maturity Step - up coupons Large issue sizes ( $ 1 billion or more )

Q:

Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; if you buy it, you plan to hold it for 5 years. You (and the...