Answer: The answers are provided below
Step-by-step explanation:
Question 1: What would happen when John tried to collect on both property insurance policies?
It is possible for John to claim insurance against losses that were incurred as a result of floods on his own property. In the case of claiming for his neighbor, he can't claim for the loss his neighbor incurred.
Question 2: What would happen when Jane tried to collect on her fire insurance policy?
Jane can claim for losses that were incurred to her house in California as a result of the damage caused by the fire. She has the fire insurance policy document and should tender it to make her claim.
Question 3: What would happen when Jane tried to collect the life insurance policy?
John bought the life insurance policy when he married Jane. John assigned Jane as the beneficiary in case he died. Since Jane is the beneficiary, she can collect the life insurance policy.