Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. finn and rachel purchased a $200,000 homeowners po

Finn and Rachel purchased a $200,000 homeowners policy for their house in 1988. They have...

90.2K

Verified Solution

Question

Accounting

Finn and Rachel purchased a $200,000 homeowners policy for their house in 1988. They have renewed the policy each year since and have replacement coverage. This policy has a $1,000 deductible. Their home now has a replacement value of $275,000. Last week they came home to find a small fire which caused the following damages: Home$50,000 personal property$20,000 Landscaping$ 7,000 Assume Finn and Rachel have a standard HO-3 policy with personal property covered at 50% and landscaping covered for 10%. How much will the insurance pay for the losses of their personal property and landscaping?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

1 8 Determine angles a b and c Figure P1 8 35 a b C

Biology
1.2K views

1 Identify the above forelimb structures as to whether they are homologous analogous or vestigial...

Biology
1.2K views

Why do we breathe in oxygen and exhale carbon dioxide?A. Oxygen is a product of...

Physics
1.2K views

A It takes 3 00J of energy to move a 1 50C charge from the...

Geometry
1.2K views

Find the value of a to the nearest tenth X IC 8

Basic Math
1.2K views

Use number bases to answer the question Using only quarters nickels and pennies what is...

Basic Math
1.2K views

Use the figure to find CBD n FBA Which of the following is CBD n...

Accounting
1.2K views

Mountain High Ice Cream Company transferred $62,000 of accounts receivable to the Prudential...

Accounting
1.2K views

undefined Stock warrants can result in dilutive or anti-dilutive effects on earnings per share....

Accounting
1.2K views

Hi, I am just wondering if the 23.6% is the correct answer? I assumed the...

Accounting
1.2K views

An unmarried person who passed away last week had the following line items. Compute (1)...

Finance
1.2K views

Question 4 The Alien Company had the following income statement for the month of July...