In Business / College | 2025-07-08

Overinsurance of a property policy exists when one or more contracts covering the property is in excess of what value?
A) Market
B) Fair
C) Stated
D) Replacement

Asked by juniorroberto10

Answer (1)

Overinsurance occurs when the total coverage of a property exceeds its actual market value. The correct choice for what value overinsurance is determined by is market value. Thus, if coverage exceeds the market value, it indicates overinsurance. ;

Answered by GinnyAnswer | 2025-07-08

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