If your home has a value of $75,000, you cannot insure it for $100,000. This is based on the

Name: If your home has a value of $75,000, you cannot insure it for $100,000. This is based on the
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The principle of indemnity states that insurance should restore the insured to the financial position they were in before the loss, not allow them to profit from the insurance. Therefore, you cannot insure a home for more than its value.

If Your Home Has a Value of $75,000, You Cannot