Your home insurance policy has a $500 deductible and provides cash value coverage on contents.If your home is over 25 years old and a small fire causes $6000 damage to it,what amount of the claim would the insurance company pay?

Question

Quizplus · Accepted Answer

Since the damage caused by the fire is $6000 and the deductible is $500, the insurance company would pay $5500 for the claim. The age of the home doesn't affect the coverage unless it is specifically excluded in the policy.

Your Home Insurance Policy Has a $500 Deductible and Provides