5 Hal owns a home with a replacement cost of $200,000....
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Hal owns a home with a replacement cost of $200,000. He insures it with an HO-03 insurance policy that has a Section A coverage limit of $120,000. A kitchen fire causes $40,000 in damage and Halfiles a claim for the loss with his insurer. Under the loss settlement provision Hal will receive A $30,000 B $40,000 $24.000 D $20,000
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