Andre has an unendorsed HO-3 policy. His roof is torn off by a tornado. His limit on Coverage A is $100,000. RC of the roof is $25,000, and ACV of the roof is $22,000. RC of the covered contents damaged is $65,000, and ACV of the contents is $55,000. Ignoring the effect of any deductible, how much will his insurer pay for this loss? Please show your work.
Andre has an unendorsed HO-3 policy. His roof is torn off by a tornado. His limit on Coverage A is $100,000. RC of the roof is $25,000, and ACV of the roof is $22,000. RC of the covered contents damaged is $65,000, and ACV of the contents is $55,000. Ignoring the effect of any deductible, how much will his insurer pay for this loss? Please show your work.
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 23CE
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![Andre has an unendorsed HO-3 policy. His roof is torn off by a tornado. His limit on
Coverage A is $100,000. RC of the roof is $25,000, and ACV of the roof is $22,000. RC of
the covered contents damaged is $65,000, and ACV of the contents is $55,000. Ignoring
the effect of any deductible, how much will his insurer pay for this loss? Please show your
work.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7dadd5b1-e271-4828-927c-f4ba099e3e8f%2Fdfefbf00-bd36-4415-9042-30d9454eab9b%2Fw5jvnvo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Andre has an unendorsed HO-3 policy. His roof is torn off by a tornado. His limit on
Coverage A is $100,000. RC of the roof is $25,000, and ACV of the roof is $22,000. RC of
the covered contents damaged is $65,000, and ACV of the contents is $55,000. Ignoring
the effect of any deductible, how much will his insurer pay for this loss? Please show your
work.
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