Question

64. Under dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must inform the insured within how many days of receiving proof of loss?

(Choose from the following options)
1. 10 days
2. 30 days
3. 45 days
4. 60 days

Answer 1

The insurer has 30 days to inform the insured about repairing or replacing the damaged or lost property under a dwelling policy after receiving the proof of loss.

Step-by-step explanation:

Under a dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must inform the insured within a specific time frame of receiving the proof of loss. In this case, the correct answer is that the insurer has 30 days to inform the insured of their intention to repair or replace the property. This ensures that the insured is promptly made aware of the actions the insurer intends to take regarding the dwelling is damaged or burglarized claim.