Author Question: In which one of the following situations would Joe be able to collect the entire amount of insurance claimed? (Read 34 times)

Kikoku · **on:** Aug 7, 2021

In which one of the following situations would Joe be able to collect the entire amount of insurance claimed?
◦ Joe insured the clubhouse of a Hells Angels motorcycle club located in the next block for $75 000; the house is valued at about that amount. The clubhouse is subsequently destroyed in a fire. Joe claims $75 000.
◦ Joe insured his law partner's life for $500 000 and the amount he actually loses when the partner dies is only $1000. Joe claims $500 000.
◦ Joe owns a one-half interest in a house valued at $1000 that is completely destroyed in a fire. The house is insured for that amount and Joe makes a claim for $100 000.
◦ Joe took out a life insurance policy on his wife for $500 000, and shortly thereafter, during a fight that occurred while he was in a drunken rage, he struck his wife, causing her death. Joe claims $500 000.
◦ Joe's house suffers $20 000 damage, and he only had it insured for $1000, when the actual value was over $250 000. Joe claims $20 000.

vish98 · **Reply #1 on:** Aug 7, 2021

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