Policy includes personal liability coverage

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Reference no: EM131329507

1. The Homeowners 6 (unit-owners form) policy includes personal liability coverage

2. Renters insurance is needed if you rent a house, but is not needed if you rent an apartment

3. A contract can be written on a twenty-unit apartment complex as long as the tenants are families.

4. Barb has a house insured for $80,000 under a HO 3 form. A fire damages the property heavily. At the time it happened, the house had a replacement cost of $125,000. The replacement cost of the damaged parts is $50,000 with depreciation agreed to be 25%. Ignoring the deductible, how much will she collect?

A) $50,000

B) $30,000

C) $37,250

D) $40,000

E) None of the above.

Reference no: EM131329507

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