Are you having trouble answering the question “R lives in a small rural town and bought a home a few years ago for $75,000. If the home were completely destroyed it would cost $150,000 to rebuild. Since R would probably replace this home by buying another home in town for $80,000, that is the price R wants to insure the current home for. This method of insuring the home is known as:”? You don’t have to worry about it anymore. Azanswer team is here with the correct answer to your question.
R lives in a small rural town and bought a home a few years ago for $75,000. If the home were completely destroyed it would cost $150,000 to rebuild. Since R would probably replace this home by buying another home in town for $80,000, that is the price R wants to insure the current home for. This method of insuring the home is known as:
a. Functional Replacement Cost
b. Market Value
c. Replacement Cost
d. Actual Cash Value
Answer: B
You should now have gotten the answer to your question “R lives in a small rural town and bought a home a few years ago for $75,000. If the home were completely destroyed it would cost $150,000 to rebuild. Since R would probably replace this home by buying another home in town for $80,000, that is the price R wants to insure the current home for. This method of insuring the home is known as:”, which was part of Insurance MCQs & Answers. Thanks for choosing us.
