medium · Certified Financial Planner Professional Conduct
The Whitaker family home has a replacement cost of 500,000. They carry 350,000 of insurance under an HO-3 policy. A kitchen fire causes 40,000 in covered damages.
Disregarding any deductible, how much will the insurance company pay?
- 40,000
- 35,000
- 28,000
- 350,000
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