help in homework

New User?

Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Kyle and Leica have personal property coverage with a $250 limit on currency, $1000 limit on jewelry, and a $2500 limit on gold, silver, and pewter

Kyle and Leica have personal property coverage with a $250 limit on currency, $1000 limit on jewelry, and a $2500 limit on gold, silver, and pewter

Finance

Kyle and Leica have personal property coverage with a $250 limit on currency, $1000 limit on jewelry, and a $2500 limit on gold, silver, and pewter. They do not have a personal property floater. If $351 cash, $2265 of jewelry, and $1365 of pewterware were stolen from their home, what amount of loss would be covered by their homeowners policy? round to the nearest dollar, no commas, no dollar signs.

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

Computation of Amount of Loss covered by the Homeowner Policy:

Particulars Maximum Coverage limit Actual loss of D because of theft Reimbursement amount(minimum of coverage or loss)
Cash $250   $351   $250  
Jewelry $1,000   $2,265   $1,000  
Pewter ware $2,500   $1,365   $1,365  
Total Amount Covered $2,615  

Amount of Loss Covered is lower than the amount of Loss due to theft or the amount of Coverage on Individual item basis.

So,  Amount of Loss covered by the Homeowner Policy is $2,615.

Sitejabber (5.0)

BBC (5.0)

Trustpilot (4.9)

Google (5.0)

Related Questions