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Which one (1) of the following is NOT true of the "Replacement Cost" coverage under a Homeowners Comprehensive policy? Replacement cost coverage applicable to both the building and personal property insured under the policy is basic coverage in all such policies. Replacement cost coverage for contents must be endorsed on to the policy. Payment will be made without deduction for depreciation. Replacement must be made with property of similar quality.

Which one (1) of the following is NOT true of the "Replacement Cost" coverage under a Homeowners Comprehensive policy? Replacement cost coverage applicable to both the building and personal property insured under the policy is basic coverage in all such policies. Replacement cost coverage for contents must be endorsed on to the policy. Payment will be made without deduction for depreciation. Replacement must be made with property of similar quality.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Which one (1) of the following is NOT true of the "Replacement Cost" coverage under a Homeowners Comprehensive policy? Replacement cost coverage applicable to both the building and personal property insured under the policy is basic coverage in all such policies. Replacement cost coverage for contents must be endorsed on to the policy. Payment will be made without deduction for depreciation. Replacement must be made with property of similar quality.
Transcribed Image Text:Which one (1) of the following is NOT true of the "Replacement Cost" coverage under a Homeowners Comprehensive policy? Replacement cost coverage applicable to both the building and personal property insured under the policy is basic coverage in all such policies. Replacement cost coverage for contents must be endorsed on to the policy. Payment will be made without deduction for depreciation. Replacement must be made with property of similar quality.
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