If an insured with a Dwelling Policy has other coverage, which is true?

Insurance

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If an insured with a Dwelling Policy has other coverage, which is true?

a. The proceeds are divided between the mortgagee and mortgagor according to their interest in the property.

b. The proceeds are divided among all those who have an insurable interest at the time of loss.

c. Losses are payable in the same proportion that this insurance bears to the total amount of fire insurance.

d. The amount of premium earned is prorated to the length of time the policy has been in force.

Answer: c

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