A contractor carries a $300,000 general liability policy with a $1,000 deductible. A claim for $15,000 is filed and approved. How much will the insurance company pay?
Correct Answer
B) $14,000
The insurance company pays the claim amount minus the deductible: $15,000 - $1,000 = $14,000. The contractor pays the $1,000 deductible.
Why This Is the Correct Answer
The insurance company pays the claim amount minus the deductible: $15,000 - $1,000 = $14,000. The contractor pays the $1,000 deductible.
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A subcontractor files a mechanics' lien but fails to provide proper notice to the property owner. Under Alabama law, what is the likely outcome?
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