Business, 29.04.2021 19:40 jannaleigh
Ten years ago, Princess her house for $200,000.00. Her house is now valued at $600,000 but she has not increased her insurance. A gas tank recently exploded and destroyed her kitchen. She put in a claim for $90,000.00 but the insurance company is only prepared to pay her $30,000.00. She is very distressed.
a) Explain to Princess which principle of insurance was used to determine
the amount to be paid.
b) Advise her how she should resolve the present situation.
c) Explain TWO other principles of insurance that would apply to this case.
Answers: 2
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Ten years ago, Princess her house for $200,000.00. Her house is now valued at $600,000 but she has n...
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