Under the replacement cost insurance, an insurer has the right to either pay the insured for the loss or pay to have the property restored.

Name: Under the replacement cost insurance, an insurer has the right to either pay the insured for the loss or pay to have the property restored.
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Question

Quizplus · Accepted Answer

Under replacement cost insurance, the insurer has the option to pay for the cost of restoring or replacing the property rather than just providing compensation for the loss.

Under the Replacement Cost Insurance, an Insurer Has the Right