The maximum amount paid for total loss of property is the face of the policy or the value of the property

Name: The maximum amount paid for total loss of property is the face of the policy or the value of the property
Brand: Quizplus
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Quizplus · Accepted Answer

The maximum amount paid for total loss of property is typically the lesser of the face value of the policy or the actual value of the property at the time of the loss. This ensures that the policyholder does not receive more than the property's worth, preventing over-insurance.

The Maximum Amount Paid for Total Loss of Property Is