How do they come up with $84,000.00 being the answer?
Joe has a DP-3 policy with $80,000 Coverage A. A tornado blows the house down, totally destroying it. A $2,000 storage shed is also destroyed. It takes the insured four (4) months to rebuild the houses, and he usually rents it for $500.00 per month. There is about $2,000 of furniture (ACV) that is destroyed. Ignoring any deductible, how much will the policy pay?
How is $84,000 the answer? There is no coverage B for the storage shed, there is no coverage C for the furniture and no coverage D for Fair Market Rental. Please show me how $84,000.00 is the answer.