The co-insurance provision on homeowners' policies
A) is meant to eliminate homeowners claims for small losses.
B) means that the homeowner will receive less than 100% reimbursement on all losses.
C) implies that more than one insurance company may be responsible for the losses.
D) provides an incentive for homeowners to insure their homes for 100% of replacement cost.
Correct Answer:
Verified
Q25: The mortgage clause
A)ensures that the lender receives
Q26: An inflation guard endorsement on a homeowner's
Q27: The amount of damages you agree to
Q28: Actual cash value is equal to
A)replacement cost
Q29: Which of the following statements concerning homeowners'
Q31: The typical homeowners' policy provides protection against
A)property
Q32: "All risks" homeowners' insurance insures you against
A)the
Q33: John Biner's roof was totally ruined by
Q34: A new roof costs $10,000.Assume that the
Q35: The coinsurance provision in the homeowners' policy
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