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Frank's property insurance requires periodic reporting of inventory values. Frank believes he can ...

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Frank's property insurance requires periodic reporting of inventory values. Frank believes he can ...

Frank's property insurance requires periodic reporting of inventory values. Frank believes he can save money by under-reporting the inventory. Last period, Frank reported $200,000 when the value was really $400,000. Shortly after filing the report, when the value was $500,000, the inventory was destroyed. How much will Frank's insurer pay, assuming no deductible?
A) nothing, as underreporting voids coverage
B) $200,000
C) $250,000
D) $400,000

Textbook

Principles of Risk Management and Insurance

Edition: 12^th

Authors: Rejda, McNamara

Read 142 times

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AzJose Author

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5 years ago

Correct and thanks!

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