A policyholder has a boiler and machinery policy with a $200,000 limit. If a boiler explosion causes $100,000 damage to the boiler itself, $50,000 damage to the insured's building, and $30,000 of expediting expenses, how much will the insured collect under the policy?
A policyholder has a boiler and machinery policy with a $200,000 limit. If a boiler explosion causes $100,000 damage to the boiler itself, $50,000 damage to the insured's building, and $30,000 of expediting expenses, how much will the insured collect under the policy?
More Questions:
- Which of the following is true regarding a market value adjusted annuity?
- What is the other term for the cash payment settlement option?
- What documentation grants express authority to an agent?
a) $175,000
b) $180,000
c) $200,000
d) $100,000
Answer: a
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