Are you having trouble answering the question “K and R’s home was insured for $75,000 and had a $60,000 loss by fire. It is determined that the actual value to replace the home is $100,000. If the home is repaired for the full $60,000, what provision did the policy most likely have?”? You don’t have to worry about it anymore. Azanswer team is here with the correct answer to your question.
K and R’s home was insured for $75,000 and had a $60,000 loss by fire. It is determined that the actual value to replace the home is $100,000. If the home is repaired for the full $60,000, what provision did the policy most likely have?
a. Blanket Replacement Condition
b. Agreed Value Condition
c. Stated Value Provision
d. Market Value Provision
Answer: B
You should now have gotten the answer to your question “K and R’s home was insured for $75,000 and had a $60,000 loss by fire. It is determined that the actual value to replace the home is $100,000. If the home is repaired for the full $60,000, what provision did the policy most likely have?”, which was part of Insurance MCQs & Answers. Thanks for choosing us.
