Barnaby is applying for insurance for his new home.Which of the following is correct?
A) He should base the amount of insurance on the price he paid for it.
B) He should insure the building for 75% of its replacement cost.
C) He should use the actual cash value method for settling claims to receive the full cost of repairing or replacing his personal belongings.
D) His personal belongings should automatically be covered with his home at 125% of his home's insured amount.
E) His policy should automatically increase coverage as construction costs rise.
Correct Answer:
Verified
Q61: Home insurance policies include coverage for all
Q68: Personal liability coverage does NOT protect
A) An
Q68: A policy that supplements your basic personal
Q69: Motor vehicle crashes cost more than _
Q71: If you have a loss due to
Q73: Andrew is applying for insurance for his
Q74: Zach is applying for insurance for his
Q76: Vincent is applying for insurance for his
Q77: Which of the following is NOT correct
Q90: Tom wanted to receive as many discounts
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents