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Homeowner’s Insurance Policy Assignment

Author:
February 18th, 2020

Jerry​ Carter’s home is currently​ valued, on a replacement cost​ basis, at ​$244,000. When he last checked his​ policy, his home was insured for $182,354 and he did not have an inflation guard endorsement. If he has a $17,230 claim due to a kitchen​fire, how much will his​ homeowner’s insurance policy​ pay? How much would be paid if his home were totally​ destroyed? In order to obtain full replacement​ coverage, how much insurance should Jerry carry on his​ house?

If he has a $17,230 claim due to a kitchen​ fire, his​ homeowner’s policy would pay $______. ​(Round to the nearest​dollar.) Get Finance homework help today

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