How much will his homeowner insurance policy pay

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Reference no: EM131915009

Jerry Carter's home is currently valued, on a replacement cost basis, at $494,000. When he last checked his policy, his home was insured for $359,227 and he did not have an inflation guard endorsement. If he has a $31,702 claim due to a kitchen fire, how much will his homeowner's insurance policy pay. How much would be paid if his home were totally? destroyed In order to obtain full replacement coverage, how much insurance should Jerry carry on his house?

Question - If he has a ?$31,702 claim due to a kitchen fire, his? homeowner's policy would pay $ (Round to the nearest dollar.)

Reference no: EM131915009

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