Carol lost all her belongings in a burglary. She has a $150,000 face value homeowner's policy with a $500 deductible. The appraised value of her various insured personal property is $77,000. How much will she receive from insurance?

Question

Quizplus · Accepted Answer

Carol's insurance policy has a $500 deductible, which means that she will receive the appraised value of her personal property minus the deductible. Therefore, she will receive $77,000 - $500 = $76,500 from insurance.

Carol Lost All Her Belongings in a Burglary