Question: Select the false statement listed below: In the FP 7 9 5 5 policy, the ALE payments will be made only for: a . The

Select the false statement listed below: In the FP7955 policy, the ALE payments will be made only for:
a. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months.
b. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months.
c. ALE payments will not exceed 20% of Coverage A limits.
d. ALE payments can run beyond the expiration of the policy.
e. ALE payments are limited to incurred costs for the shortest of three time frames as dictated by the policy.

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!