FIN 3330
Martin and Carrie Jones insured their home and personal property under an unendorsed Homeowners 3 policy. The home has a current replacement cost of...
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. Martin and Carrie Jones insured their home and personal property under an unendorsed Homeowners 3 policy. The

home has a current replacement cost of $300,000. The policy contains the following limits:

a.    Monthly mortgage payment of $1,500 on their home.

b.Rental of motel room at $100 daily for 60 days.

c.Meals eaten in the motel restaurant for 60 days at an average cost of $60 daily (food costs at home average $20 daily).

d.Rent for storing undamaged furniture in a rental unit while the home is being rebuilt, $200 monthly

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