Last year charles and kathy price bought a home with a

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Reference no: EM13572841

Last year Charles and Kathy Price bought a home with a dwelling replacement value of $200,000 and insured it (via an HO-3 policy) for $166,000. The policy reimburses for actual cash value and has a $250 deductible, standard limits for coverage C items, and no scheduled property. Recently, burglars broke into the house and stole a 3-year-old television set with a current replacement value of $800 and an estimated useful life of 8 years. They also took jewelry valued at $2,800 and silver flatware valued at $4,200.

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

Reference no: EM13572841

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