If Property Covered by a Valued Policy Is Totally Destroyed

If property covered by a valued policy is totally destroyed, the _____.

A) insured can recover the face amount of the policy only if it does not exceed the fair market value of the property
B) insured can recover only the fair market value of the property
C) insured can recover the face amount of the policy regardless of the fair market value of the property
D) insured can recover the fair market value of the property at the time it was destroyed, up to the limits stated in the policy

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free