The "Freezer Foods Coverage" in a Comprehensive Tenant Package Policy covers spoilage of the contents of a food freezer unitcaused by a change in temperature, subject to all of the following conditions EXCEPT which one (1)?OA) The spoilage is caused by outside power interruption.OB) The spoilage is caused by mechanical breakdown of the freezer.OC) The freezer's electrical power plug is accidentally pulled out from its wall plug.OD) Payment for the loss does not exceed the amount of $2,000. Which one (1) of the following statements is true regarding Replacement Cost insurance?OA) A professional appraisal is required by insurers before they will insure any property for its Replacement Cost.OB) Most insurers do not require an insured to replace a damaged property as a condition to be indemnified for itsReplacement Cost.OC) A condition of this coverage is that replacement must be with materials of similar kind and quality.OD) Only commercial properties can be insured for their Replacement Cost.

let's break down the conditions and exceptions mentioned in the question:A) The spoilage is caused…

Which one (1) of the following statements is true regarding Replacement Cost insurance? OA) A professional appraisal is required by insurers before they will insure any property for its Replacement Cost. OB) Most insurers do not require an insured to replace a damaged property as a condition to be indemnified for its Replacement Cost. OC) A condition of this coverage is that replacement must be with materials of similar kind and quality. OD) Only commercial properties can be insured for their Replacement Cost.

Which one (1) of the following statements is true regarding Replacement Cost insurance? OA) A professional appraisal is required by insurers before they will insure any property for its Replacement Cost. OB) Most insurers do not require an insured to replace a damaged property as a condition to be indemnified for its Replacement Cost. OC) A condition of this coverage is that replacement must be with materials of similar kind and quality. OD) Only commercial properties can be insured for their Replacement Cost.

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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