A builder's risk policy lists a $100,000 limit, but damage estimate is $118,500. How much exceeds the limit before deductible analysis?
Correct Answer
C) $18,500.
$118,500 − $100,000 = $18,500 above the stated limit. This is the difference between two supplied amounts, not a coverage or payout determination.
Why This Is the Correct Answer
$118,500 − $100,000 = $18,500 above the stated limit. This is the difference between two supplied amounts, not a coverage or payout determination.
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