Consider the loss from fire damage of furniture which cost $6000 thee years ago and has an expected life of ten years.This furniture would cost $9000 to purchase today.Under a replacement cost policy,how much would the insurance company pay you for this loss?

Question

Quizplus · Accepted Answer

Under a replacement cost policy, the insurance company would pay the cost to replace the item at today's prices, which is $9000.

Consider the Loss from Fire Damage of Furniture Which Cost