An antique car recently purchased for 10000 was in the


The Thomson's house burned to the ground! They felt they were adequately covered (see coverage below). An antique car (recently purchased for $10,000) was in the garage and totally destroyed. How much will they be reimbursed for their auto from their homeowner's policy?

Replacement value of house:$120,000

Actual cash value coverage on home: $120,000

Deductible : $1,000

a. $9,750

b. $10,000

c. $0

d. $9,000

e. $9,500

 

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Finance Basics: An antique car recently purchased for 10000 was in the
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