Fundamentos de Seguro de PropiedadPregunta 289 de 531
Settlement of a covered building loss differs between a partial loss and a total loss because:
a.A total loss is settled at the purchase price
b.A partial loss ignores the coinsurance test
c.A partial loss is paid at the cost to repair
d.A total loss removes the deductible from it
Explicación
A partial loss is measured by what it costs to repair or replace the damaged portion, valued as the policy's valuation clause requires, while under the policy's own valuation terms a total loss is settled at the lesser of the property's value and the limit, which is why an underinsured owner feels the limit at a total loss. Coinsurance is tested on partial losses as usual, and the deductible comes off either kind of loss. Purchase price does not govern, because it carries land and market factors the policy does not insure.
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