A basic DP-1 dwelling policy offers __________ coverage and __________ valuations. A. open-peril; replacement cost B. open-peril; actual cash value C. named-peril; replacement cost D. named-peril; actual cash value
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Open-peril; replacement cost: This means that the policy covers all risks or perils except those specifically excluded in the policy. The payout for a claim is the cost to replace the damaged property without deduction for depreciation. B. Open-peril; actual cash Show more…
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