Question: Jacques's Replacement Cost Coverage Jacques recently purchased a $72,000 broad form HO-2 policy with no deductible. A year later, his roof is damaged by

Jacques's Replacement Cost Coverage Jacques recently purchased a $72,000 broad form HO-2

Jacques's Replacement Cost Coverage Jacques recently purchased a $72,000 broad form HO-2 policy with no deductible. A year later, his roof is damaged by a fire and he suffers a loss of $57,600. If the replacement value of Jacques's house is 120,000 and the insurance policy includes a replacement cost requirement of 80%, he will receive a reimbursement of $

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!

Pharoah Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $35,840 Supplies Expense 6,720 Accounts Receivable 13,440 Dividends 24,640 Retained Earnings...

On January 1, 2025, Larkspur Co. leased a building to Crane Inc. The relevant information related to the lease is as follows. 1. The lease arrangement is for 10 years. The building is expected to...

Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $ 7 7 3 . Selected data for the company s operations last year follow:...

I need to complete phase 3 of the schnappauf family case. PHASE lI-CHAP'I'EIIE 5-5 This is the seeenci phase eF the te:t tenIIn prehlem Ire-u began at the end efhapter 1r. Th' phase uf the tax return...

7. Reimbursement on property damage Carlos's Replacement Cost Coverage Carlos recently purchased a $72,000 broad form HO-2 policy with no deductible. A year later, his roof is damaged by a fire and...

Erics Replacement Cost Coverage Eric recently purchased a $72,000 broad form HO-2 policy with no deductible. A year later, his roof is damaged by a fire and he suffers a loss of $57,600. If the...

Reimbursement on property damage Sam's Replacement Cost Coverage Sam recently purchased a $ 7 2 , 0 0 0 broad form HO - 2 policy with no deductible. A year later, his roof is damaged by a fire and he...

7. Reimbursement on property damage Rajivs Replacement Cost Coverage Rajiv recently purchased a $54,000 broad form HO-2 policy with no deductible. A year later, his roof is damaged by a fire and he...

Hello CH, Could you help me understand this problem? 7. Reimbursement on property damage Lorenzo's Replacement Cost Coverage Lorenzo recently purchased a $162,000 broad form HO-2 policy with no...

PLEASE ANSWER ASAP FOR A THUMBS UP Jacques's Replacement Cost Coverage Jacques recently purchased a $72,000 broad form H0-2 policy with no deductible. A year later, his roof is damaged by a fire and...

7. Reimbursement on property damage Musashis Replacement Cost Coverage Musashi recently purchased a $174,000 broad form HO-2 policy with no deductible. A year later, his roof is damaged by a...

A certain fluid has a density of 1075 kg/m 3 and is observed to rise to a height of 2.0 cm in a 1.0-mm-diameter tube. The contact angle between the wall and the fluid is zero. Calculate the surface...

Give an example of a function f: A B and A1, A2 A for which f(A1 A2) f(A1) (A2). [Thus the inclusion in Theorem 5.2(b) may be proper.]

Compare the nature or ownership rights of common stock and preferred stock

What is a polar substance, and a nonpolar nonpolar substance ?, Give examples.

An organic compound contains 76.6% by weight of carbon and 6.4% by weight of hydrogen. Its molar mass is 94.1 g/mol. Calculate the chemical formula of the compound.

Matching, Put the number that corresponds to it in the blank space. 1- Bond between a heteroatom and hydrogen ST formation(), with less E 2- Hypochlorous acid 98 mL of water 3- Abundant ions in our...

Edit question Training and education costs related to the new investments are often insufficiently recognized because of financial accounting expensing practice. right or not

On October 20, 2018, our company purchased a from a company located in Luxembourg 100,000 units of a product at a purchase price of 6.00 per unit. Our company is required to pay for the merchandise...

Design a minimum-mass symmetric three-bar truss (the area of member 1 and that of member 3 are the same) to support a load P, as was shown in Fig. 2.9. The following notation may be used: Pu = P cos...

A medical research team obtained the index of adiposity, basal insulin, and basal glucose values on 21 normal subjects. The results are shown in the following table. The researchers wished to...

Van Schuylenbergh et al. (A-9) used physiological and anthropometric measurements as independent variables to predict triathlon performance (expressed in minutes). Ten triathletes underwent extensive...

Hashimoto et al. (A-7) developed a multiple regression model to predict the number of visits to emergency rooms at Jikei University hospitals in Tokyo for children having an asthma attack. The...