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1. $3,600/$6,000/$2,400

2. $3,600/$6,000/$2,400

3. Policyholder or insurance company

4.Subrogation or co-insurance

5. Subrogation or co-insurance

6. Allows or requires

7. Replacement cost or actual cash value

8. Other-insurance or subrogation

9. An equal or only a proportional

Ryan owns a house in and last week suffered some damage to his house. Specifically, a portion of his home was damaged by a fire and the damage to the structure and his personal property is expected to have a replacement cost of $6,000. The same items, which had an original cost of $2,400 when he'd bought them six years ago, had an estimated useful life of ten years. After calling his insurance agent, Ryan was reminded that he carries full insurance on, or 80% of the replacement cost value of, the house. However, to save $60 per year in his premium, he'd only covered his possessions for their actual cash value. Given this information, Ryan can expect to receive only in compensation for his loss. In contrast, if he had carried replacement cost, instead of actual cash, coverage, then he would have received Property insurance companies retain several rights and can impose several requirements on its policyholders. Among them are: After it has paid a claim, the right of the to request reimbursement from either the person who caused the loss or that person's insurance company. This is called the right of The requirement of which a policyholder to buy insurance in an amount equal to a specified percentage of the of the property. The clause, which states that if a person has more than one insurance policy, then each company is liable for amount of the loss based on its proportion of the total insurance covering the property

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