Multiple Choice
Joe owns a house on which he carries a $400,000 HO-3 policy. The replacement cost of the house is $600,000. A fire loss occurs that has a replacement cost of $10,000. How much can Joe collect under his HO-3 policy?
A) $15,462
B) $10,000
C) $30,000
D) $8,333
Correct Answer:
Verified
Correct Answer:
Verified
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