Answer:
option (e) $210,000
Explanation:
Data provided in the question:
Amount for which the home is insured = $300,000
Cost to rebuild the home = $320,000
Personal property coverage provided = 70% of value
Now,
The value of the property will be the amount for which it has been insured irrespective of the amount spent on rebuilding the property
Therefore,
Household belongings that would be covered will be
= 70% of $300,000
or
= 0.70 × $300,000
= $210,000
Hence,
The correct answer is option (e) $210,000
