Question: If the Coverage A limit on an HO 3 is $ 2 0 0 , 0 0 0 and the insured has a detached garage

If the Coverage A limit on an HO 3 is $200,000 and the insured has a detached garage valued at $50,000 what would they need to do?

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 Finance Questions!

Q:

Toula and Ian Miller of Gainesville, Florida, recently suffered a fire at their home. The fire, which began in a crawl space at the back of the house, caused $ 5 3 , 0 0 0 of damage to the dwelling...

Q:

The Smith Case Kevin and Sonya Smith are conducting an insurance review with you, their financial planner. Kevin and Sonya consider themselves middle-Americans with small but positive cash flow and a...

Q:

15. The 2022 HO 2 homeowners policy increases the limit on damage to the property of others from $1,000 (in the 2011 policy) to $5,000. What bearing, if any, should this change have on a buyer's...

Q:

c. A nearb y creek overflows during a severe storm and floods the Smith's basement causing $15,000. In flood damage. (3 points) d. The daughter is studying abroad in Germany. Her dorm room is...

Q:

A nearby creek overflows during a severe storm and floods the Smith's basement causing $15,000. In flood damage. (3 points) c. d. The daughter is studying abroad in Germany. Her dorm room is...

Q:

Larry recently had a fire at his home. The fire caused about $20,000 of damage to the dwelling. The garage which was detached was valued at $15,000 was totally destroyed but did not have the car in...

Q:

Homeowners Homework Questions Use the Homeowners 3 (Special Form) policy in Appendix B of your textbook to evaluate the following situations. Note that the declatations page shows the coverage...

Q:

all sections please Toula and Tan Miller of Gainesville, Florida, recently suffered a fire at their home. The fire, which began in a crawl space at the back of the house, caused $45,000 of damage to...

Q:

1. Jody Solan currently insures her home for 100 percent of its replacement value with an HO-3 policy. For Jody, this works out to $189,000 in dwelling (Part A) coverage. What are the maximum dollar...

Q:

Larry recently had a fire at his home. The fire caused about $20,000 of damage to the dwelling. The garage which was detached was valued at $15,000 was totally destroyed but did not have the car in...

Q:

The speed in which the home page of a website is downloaded is an important quality characteristic of that website. Suppose that the mean time to download the home page for the Internal Revenue...

Q:

Calculate the heat loss through a horizontal pipe with a diameter of 4 cm and a length of 4 m, if the steam enters the pipe at 150 C and exits at 40 degrees less. Steam flows through the pipe at a...

Q:

Pilot Plus Pens is deciding when to replace its old machine. The machine's current salvage value is $ 2 , 3 0 0 , 0 0 0 . Its current book value is $ 1 , 4 2 5 , 0 0 0 . If not sold, the old machine...

Q:

What are some food related health care issues that inner cities are more likely to see than more affluent areas? Why are certain areas most likely to experience inadequate healthy food options than...