1. The Homeowners 6 (unit-owners form) policy includes personal liability coverage
2. Renters insurance is needed if you rent a house, but is not needed if you rent an apartment
3. A contract can be written on a twenty-unit apartment complex as long as the tenants are families.
4. Barb has a house insured for $80,000 under a HO 3 form. A fire damages the property heavily. At the time it happened, the house had a replacement cost of $125,000. The replacement cost of the damaged parts is $50,000 with depreciation agreed to be 25%. Ignoring the deductible, how much will she collect?
A) $50,000
B) $30,000
C) $37,250
D) $40,000
E) None of the above.