To meet the replacement-cost requirement,a homeowner must insure his or her home for at least 80 percent of its replacement value.

Question

Quizplus · Accepted Answer

This statement is true. To meet the replacement-cost requirement, homeowners must insure their homes for at least 80 percent of the cost to rebuild or repair the home in case of damage or destruction. This ensures that the homeowner has enough coverage to fully rebuild or repair the home if needed.

To Meet the Replacement-Cost Requirement,a Homeowner Must Insure His or Her