Unformatted text preview: $190,000 collected from insurer 3b) If the loss occurs in a state with a valued policy law, Taylor will collect face value = $200,000 5) Megan would collect $12,000 for the loss of her antique table because under a valued policy, the face amount of insurance will be paid if a total loss occurs. Even though the table’s estimated market value at the time was only $10,000, she will still collect the amount it was originally insured for....
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This note was uploaded on 04/08/2008 for the course FIN 381 taught by Professor Knowles during the Spring '08 term at Bryant.
- Spring '08