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Dave notices the water pipe connecting his dishwasher had ruptured. In order to BEST comply with requirements contained in the Comprehensive Homeowners Policy and avoid possible complications with the Claims Settlement process, what is the FIRST thing Dave should do? OA) Call his Broker to report the claim OB) Attempt to clean up as much water as possible, if safe to do so OC) Shut the main water supply to the home to stop the rupture OD) Get the family out of the house to safety A building worth $500,000 is insured for $300,000 under a policy with a 90% co-insurance clause. Fire destroys the building, causing a loss of $500,000. How much would the insurer pay? OA) $270,000.00. OB) $240,000.00. OC) $300,000.00. OD) $333,333.33.

Dave notices the water pipe connecting his dishwasher had ruptured. In order to BEST comply with requirements contained in the Comprehensive Homeowners Policy and avoid possible complications with the Claims Settlement process, what is the FIRST thing Dave should do? OA) Call his Broker to report the claim OB) Attempt to clean up as much water as possible, if safe to do so OC) Shut the main water supply to the home to stop the rupture OD) Get the family out of the house to safety A building worth $500,000 is insured for $300,000 under a policy with a 90% co-insurance clause. Fire destroys the building, causing a loss of $500,000. How much would the insurer pay? OA) $270,000.00. OB) $240,000.00. OC) $300,000.00. OD) $333,333.33.

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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Dave notices the water pipe connecting his dishwasher had ruptured. In order to BEST comply with requirements contained in the Comprehensive Homeowners Policy and avoid possible complications with the Claims Settlement process, what is the FIRST thing Dave should do? OA) Call his Broker to report the claim OB) Attempt to clean up as much water as possible, if safe to do so OC) Shut the main water supply to the home to stop the rupture OD) Get the family out of the house to safety
Transcribed Image Text:Dave notices the water pipe connecting his dishwasher had ruptured. In order to BEST comply with requirements contained in the Comprehensive Homeowners Policy and avoid possible complications with the Claims Settlement process, what is the FIRST thing Dave should do? OA) Call his Broker to report the claim OB) Attempt to clean up as much water as possible, if safe to do so OC) Shut the main water supply to the home to stop the rupture OD) Get the family out of the house to safety
A building worth $500,000 is insured for $300,000 under a policy with a 90% co-insurance clause. Fire destroys the building, causing a loss of $500,000. How much would the insurer pay? OA) $270,000.00. OB) $240,000.00. OC) $300,000.00. OD) $333,333.33.
Transcribed Image Text:A building worth $500,000 is insured for $300,000 under a policy with a 90% co-insurance clause. Fire destroys the building, causing a loss of $500,000. How much would the insurer pay? OA) $270,000.00. OB) $240,000.00. OC) $300,000.00. OD) $333,333.33.
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