The 80% rule states that, in order to collect the full amount of a partial loss,...

The 80% rule states that, in order to collect the full amount of a partial loss, you must have insurance on 80% of a home’s:
1. Current market value
2. Market value at the time of purchase
3. Current replacement cost
4. None of the above.

Expert Solution

The Correct Answer is Option C

80% rule is a rule in Insurance companies which states that only 80% of the replacement value will be covered in case there is any damage. If it is above 80% then the charges above will not be met by insurance companies while if it is less than 80%, then the proportionate amount will be paid.

jeff jeffy answered 2 years ago

United States Rule math

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