Replacement-Cost Coverage Is the Reimbursement Of

question 47

Multiple Choice

Replacement-cost coverage is the reimbursement of:

• A)the cost of repairing or replacing damaged structures without deducting depreciation.
• B)reasonable living expenses while the insured's house is being repaired.
• C)the cost of damages caused by perils other than those mentioned in the policy.
• D)the cost of defending the insured.
• E)the increase in the deductible to reduce the amount of the insurance premium.

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Definitions:

Personal Check

A written, dated, and signed slip of paper that orders a bank to pay a specific amount of money from the drawer's account to the person in whose name the check has been issued.

Third-Party Check

A check that is written by one person to another but is cashed or deposited by a third party.

Paid In Full

A term indicating that a debt or obligation has been completely settled and no balance remains due.

Uncorrected

Refers to something that has not been amended, fixed, or rectified.