Homework Help is Here – Start Your Trial Now!
Business
Business Law
Which one (1) of the following statements is true about coverage for loss or damage caused by an earthquake? OA) It is not available under a property insurance policy. OB) It is automatically included under the extended perils of a property policy. OC) It is an "Act of God" and not insurable. OD) It is a peril that may be covered under a property policy by endorsement for an additional premium.

Which one (1) of the following statements is true about coverage for loss or damage caused by an earthquake? OA) It is not available under a property insurance policy. OB) It is automatically included under the extended perils of a property policy. OC) It is an "Act of God" and not insurable. OD) It is a peril that may be covered under a property policy by endorsement for an additional premium.

icon
Related questions
Question

1

Which one (1) of the following statements is true about coverage for loss or damage caused by an earthquake? OA) It is not available under a property insurance policy. OB) It is automatically included under the extended perils of a property policy. OC) It is an "Act of God" and not insurable. OD) It is a peril that may be covered under a property policy by endorsement for an additional premium.
Transcribed Image Text:Which one (1) of the following statements is true about coverage for loss or damage caused by an earthquake? OA) It is not available under a property insurance policy. OB) It is automatically included under the extended perils of a property policy. OC) It is an "Act of God" and not insurable. OD) It is a peril that may be covered under a property policy by endorsement for an additional premium.
The contents of a building are insured for $200,000 subject to 80% co-insurance. The policy contains a $500 deductible clause. A fire causes $40,000 damage to contents. The full replacement value is found to be $300,000. How much will the policy pay? OA) $32,833.00 OB) $39,500.00 OC) $33,333.00 OD) $26,166.00
Transcribed Image Text:The contents of a building are insured for $200,000 subject to 80% co-insurance. The policy contains a $500 deductible clause. A fire causes $40,000 damage to contents. The full replacement value is found to be $300,000. How much will the policy pay? OA) $32,833.00 OB) $39,500.00 OC) $33,333.00 OD) $26,166.00
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer