Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Coverage A $240000 Coverage $24000 Coverage $120000 Coverage $72000 The home was badl...

Coverage A $240000 Coverage $24000 Coverage $120000 Coverage $72000 The home was badly damaged in a fire

Coverage A: …………………………… $240,000

Coverage B: …………………………… $24,000

Coverage C: …………………………… $120,000

Coverage D: …………………………… $72,000

The home was badly damaged in a fire, and the Jones family was forced to live in a motel for 60 days while their home was being rebuilt. Undamaged personal property was stored in a rental unit during the period of reconstruction. What dollar amount, if any, is payable under their Homeowners 3 policy for the following (ignore any deductible)?

a. Three bedrooms were totally destroyed in the fire. The replacement cost of restoring the bedrooms is $80,000. The actual cash value of the loss is $50,000.

b. Monthly mortgage payment of $1,500 on their home.

c. Rental of motel room at $100 daily for 60 days.

d. Meals eaten in the motel restaurant for 60 days at an average cost of $60 daily (food costs at home average $20 daily).

e. Rent for storing undamaged furniture in a rental unit while the home is being rebuilt, $200 monthly.

Martin and Carrie Jones insured their home and personal property

Apr 26 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions