If an insured wants to receive “new for old” in the event of a property loss, he or she would purchase

Insurance

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If an insured wants to receive “new for old” in the event of a property loss, he or she would purchase

Options

A. Actual cash value (ACV).
B. Replacement cost.
C. Agreed value.
D. Market value.

Answer: C. He or she would purchase replacement cost.

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