Dwelling Policy (DP)Pregunta 272 de 474
When a dwelling policy settles a fair rental value claim, the insurer pays:
a.The value the building lost in the local market
b.The gross rent the lease named, with no offset at all
c.The lost rent minus expenses that do not continue
d.The rent plus the value of the owner's lost time
Explicación
Fair rental value is an indirect-loss coverage measured by rental income lost during the repair period, reduced by expenses that stop while the unit is unusable, such as utilities the owner no longer buys. Paying the gross lease amount would put the owner ahead of where the fire found her, which the principle of indemnity does not allow.
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Preguntas relacionadas de este tema
- Coverage D on a dwelling policy pays the owner for:
- Coverage E on a dwelling policy responds when:
- An owner lives in half of a duplex and rents out the other half. A covered fire makes both halves unlivable. The correct treatment is:
- A dwelling insured on a basic form is damaged by fire. The building loss is settled on:
- A basic form dwelling loses a roof section that costs $12,000 to replace and has depreciated $4,000. Before any deductible, the policy pays:
- The broad and special dwelling forms differ from the basic form in that they settle:
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