Multiple Choice
David has a Homeowners 3 policy that provides $280,000 of insurance on his dwelling,which has a current replacement value of $400,000.Ignoring any deductible,how much will David collect if a roof with a replacement value of $16,000 but an actual cash value of $10,000 is destroyed in a fire?
A) $10,000
B) $12,000
C) $14,000
D) $16,000
Correct Answer:
Verified
Correct Answer:
Verified
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