answer with full work If the market value of your home is $250000, but the replacement cost of the structure is $190000, how much homeowner's insuranceshould you have?• S60000O $250000O $190000O $440000Kimberly has a homeowner's insurance policy. Her home was broken into, and $5200 worth of possessions were stolen. If herdeductible is $2200, how much coverage will her insurance company pay for the loss?O so• $3000O $5200O s2200Dorothy Taylor has a personal auto policy with coverage limits of 20/40/15. Dorothy has collision coverage with a $250 deductible.She runs a red light and causes an auto accident in which three people are injured. Each of them sues her for $19900 in personal injuryand $5000 for vehicle damage (there is no injury to Dorothy or her car). How much will Dorothy have to pay out of pocket, and howmuch will her insurer pay?Dorothy pays $19700 and insurer pays $55000O Dorothy pays $5000 and insurer pays $59700O Dorothy pays $0 and insurer pays $64700O Dorothy pays $19950 and insurer pays 54450

Answered: If the market value of your home is…

If the market value of your home is $250000, but the replacement cost of the structure is $190000, how much homeowner's insurance should you have?

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)

6th Edition

ISBN:9781337117005

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter10: Protecting Your Property

Section: Chapter Questions

Problem 4FPE

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Question

answer with full work

If the market value of your home is $250000, but the replacement cost of the structure is $190000, how much homeowner's insurance
should you have?
• S60000
O $250000
O $190000
O $440000
Kimberly has a homeowner's insurance policy. Her home was broken into, and $5200 worth of possessions were stolen. If her
deductible is $2200, how much coverage will her insurance company pay for the loss?
O so
• $3000
O $5200
O s2200
Dorothy Taylor has a personal auto policy with coverage limits of 20/40/15. Dorothy has collision coverage with a $250 deductible.
She runs a red light and causes an auto accident in which three people are injured. Each of them sues her for $19900 in personal injury
and $5000 for vehicle damage (there is no injury to Dorothy or her car). How much will Dorothy have to pay out of pocket, and how
much will her insurer pay?
Dorothy pays $19700 and insurer pays $55000
O Dorothy pays $5000 and insurer pays $59700
O Dorothy pays $0 and insurer pays $64700
O Dorothy pays $19950 and insurer pays 54450

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