State Farm Fire Independent Policy Practice Exam

How much would the payment be for the hunting rifles and shotguns in Mike and Jennifer Reed's claim?

1. $2,940

2. $2,000

3. $2,690

4. $1,500

The correct answer is: $2,690

The correct payment amount for the hunting rifles and shotguns in Mike and Jennifer Reed's claim is $2,690. This figure likely reflects the total value of the items as assessed under the relevant policy terms. In insurance claims, especially for personal property like firearms, it is important to consider factors such as the replacement cost value, the condition of the items, and any limits on coverage that may apply to specific types of personal property. In this case, $2,690 is the amount that would have been determined to accurately represent the insured value of the hunting rifles and shotguns according to the policy provisions and evaluation process utilized by the insurer. This ensures that the reimbursement aligns with the policyholder's coverage and any applicable deductibles, thereby providing an equitable settlement based on the specifics of the claim.