Cơ bản về bảo hiểm tài sảnCâu 260 / 531
When an adjuster depreciates a nine-year-old commercial carpet to reach actual cash value, the deduction is measured by the carpet's:
a.Gap between market value and the limit
b.Share of the limit the loss represents
c.Total premium the insured has paid in
d.Age, wear and remaining useful life
Giải thích
Depreciation measures the value the property has already used up: its age, its physical wear, and how much serviceable life was left the moment before the loss. Premium paid is irrelevant to valuation, because premium buys the promise rather than measuring the loss. The proportion of the limit a loss represents belongs to the coinsurance test, which asks whether enough insurance was bought, not what the carpet was worth.
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Câu hỏi liên quan cùng chủ đề
- The purpose of a deductible in a property policy is to:
- The clause that determines how a loss is shared when two or more policies cover the same property is the:
- A commercial flat roof would cost $48,000 to replace today. It has a 20-year expected life, it was 15 years old when a covered windstorm destroyed it, and the policy settles building losses on an actual cash value basis with no deductible. What does the insurer pay?
- A store's water-damaged interior would cost $30,000 to replace and is worth $18,000 on an actual cash value basis. The replacement cost policy carries a $1,000 deductible. Before any repair work is done, the insurer's first payment is:
- The recoverable depreciation held back under a replacement cost policy becomes payable once the insured has:
- A century-old building has hand-plastered walls and ornamental tin ceilings. A policy written on a functional replacement cost basis settles a covered loss by paying to:
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