Home and its contents insured under Homeowners policy

Assignment Help Operation Management

Reference no: EM13782439

Principles of Risk Management and Insurance (12 ed)

Ch.20

Paul has his home and its contents insured under a Homeowners 3 (special form)policy. He carries $160,000 of insurance on the home, which has a replacement cost of $200,000. Explain the extent to which each of the following losses is covered. (Ignore the deductible.) If Paul’s policy does not cover the loss or inadequately covers any of these losses, show how full coverage can be obtained.

a. Paul’s stamp collection, which is valued at$5,000, is stolen from his home.

b. Teenage vandals break into Paul’s home and destroy a painting that has a market value of $1,000.

c. A motorboat stored in the driveway of Paul’s home is badly damaged during hailstorms. The actual cash value of the damaged portion is $8,000, and its replacement cost is $20,000.

Reference no: EM13782439

Questions Cloud

Multinational corporation or international nonprofit agency : Select a multinational corporation or international nonprofit agency that has encountered these problems (this can be a previous or current employer of yours). Using the Internet and the library, each individual in the group will research the orga..

Home and personal property under an unendorsed homeowners : Tom and Cindy Jones insured their home and personal property under an unendorsed Homeowners 3 policy. The home has a current replacement cost of$300,000. The home was badly damaged in a fire, and family was forced to live in a motel for 60 days while..

Analyze the crime of burglary : How has the definition of burglary changed from the old common law definition? Analyze the crime of burglary, including the actus reus and mens rea of burglary

Examine major issues of conflict and their causes : Define the context of the conflict, providing relevant history and limitations of study. Examine major issues of conflict and their causes in that context (identifiable from the literature)

Home and its contents insured under Homeowners policy : Paul has his home and its contents insured under a Homeowners 3 (special form)policy. He carries $160,000 of insurance on the home, which has a replacement cost of $200,000. Explain the extent to which each of the following losses is covered. (Ignore..

Lack of intercultural communication and interaction : What is the cultural phenomenon at play here (what is it called/ term)? How do you explain the lack of intercultural communication and interaction?

Different orderings of the three candidates : Prove that a voter who prefers Obama over Clinton has to prefer Edwards over Obama and Clinton over Edwards. Present your reasoning.

Principles of risk management and insurance : Michael went deer hunting with Ed. After seeing bushes move, Michael quickly fired his rifle at what he thought was a deer. However, Ed caused the move- ment in the bushes and was seriously injured by the bullet. Ed survived and later sued Michael on..

Issue for supply chains and transport service providers : We have all experienced highway congestion and "bumper-to-bumper" traffic, but congestion is a bigger issue for supply chains and transport service providers. Why?

User Account

All Pages