Yogi Is Applying for Insurance for His New Home

question 17

Multiple Choice

Yogi is applying for insurance for his new home. Which of the following is correct?

• A) He should base the amount of insurance on the price to rebuild or repair the new home.
• B) He should insure the building for 75% of its replacement cost.
• C) He should use the actual cash value method for settling claims to receive the full cost of repairing or replacing his personal belongings.
• D) His personal belongings should be covered with his home at 125% of his home's insured amount.
• E) His insured amount should remain the same as long as he lives in his house.

---

Definitions:

British Prosperity

A period or condition marked by economic growth and well-being within the United Kingdom, historically influenced by factors such as industrialization, empire, and global trade.

Quaker Merchants

Businesspeople who adhered to the Religious Society of Friends, or Quakers, known for their ethical business practices and emphasis on peace and equality.

Jewish Merchants

Individuals of Jewish heritage who were involved in various forms of trade and commerce historically.

Lucrative Crop

A crop that generates a substantial profit for the farmer or the economy, often due to high demand and/or premium pricing.