Dwelling replacement value-standard limits for coverage

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Reference no: EM131071005

Last year, Paul and Joanna Stillman bought a home with a dwelling replacement value of $200,000 and insured it (via an HO-5 policy) for $164,000. The policy reimburses for actual cash value and has a $500 deductible, standard limits for coverage C items, and no scheduled property. Recently, burglars broke into the house and stole a 2-year-old television set with a current replacement value of $600 and an estimated useful life of 7 years. They also took jewelry valued at $2,400 and silver flatware valued at $2,700.

Assuming a 50% coverage C limit, calculate how much the Stillmans would receive if they filed a claim for the stolen items. Round the answer to two decimal places.

Reference no: EM131071005

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