All of the following statements about covered perils and loss settlement under an unendorsed Homeowners 3 policy are true EXCEPT
A)The dwelling is covered on an all-risk basis.
B)Personal property losses are settled on a replacement cost basis.
C)Losses to the dwelling may be settled on an actual cash value basis.
D)Personal property is covered on a named-perils basis.

Question

Quizplus · Accepted Answer

Personal property losses under an unendorsed Homeowners 3 policy are settled on an actual cash value basis, not a replacement cost basis.

All of the Following Statements About Covered Perils and Loss