You Have Cash Value Coverage for Your Personal Property on Your

question 31

Multiple Choice

You have cash value coverage for your personal property on your homeowner's policy.Your camera cost $300 eight years ago had a life expectancy of 10 years.The camera was stolen,and a new one will cost $100.How much will the insurance company pay?

• A)$60
• B)$100
• C)$200
• D)$300

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Definitions:

Adequate Consideration

Sufficient value that is fairly exchanged between parties in a contract.

Legal Duty

An obligation imposed by law on individuals or entities, requiring them to conform to a standard of conduct for the protection of others against unreasonable risks.

Statute of Limitations

Legislation stipulating the longest period following an occurrence in which legal action can be started.

Legal Claim

is a right to seek a remedy or relief in a legal action due to the infringement of one's legal rights.