Pls help ASAP Your insured calls to report that while ice fishing on Lake Simcoe his/her automobile went through the Ice. He/she has anO.A.P. 1 Owner's Policy with Liability, standard Accident Benefits, Direct Compensation-Property Damage andComprehensive Coverages. What would the insurer pay?OA) The amount of the claim less the deductible.OB) The full amount of the claim.OC) Nothing, as there is no coverage.OD) Nothing, as the automobile was not being operated on a public highway. Replacement Cost and Actual Cash Value are two different bases ofindemnification for loss. Which one (1) of the following statements aboutReplacement Cost and Actual Cash Value is INCORRECT?Replacement Cost is a "new" value but Actual Cash Value is a "used" value.Both values must be based on items of like kind and quality to the damagedproperty.Replacement Cost is usually paid only when replacement of the damagedproperty has been completed.Actual Cash Value is the depreciated value shown in the Balance Sheet of aFinancial Statement.

Your insured calls to report that while ice fishing on Lake Simcoe his/her automobile went through the Ice. He/she has an O.A.P. 1 Owner's Policy with Liability, standard Accident Benefits, Direct Compensation-Property Damage and Comprehensive Coverages. What would the insurer pay? OA) The amount of the claim less the deductible. OB) The full amount of the claim. OC) Nothing, as there is no coverage. OD) Nothing, as the automobile was not being operated on a public highway.

Your insured calls to report that while ice fishing on Lake Simcoe his/her automobile went through the Ice. He/she has an O.A.P. 1 Owner's Policy with Liability, standard Accident Benefits, Direct Compensation-Property Damage and Comprehensive Coverages. What would the insurer pay? OA) The amount of the claim less the deductible. OB) The full amount of the claim. OC) Nothing, as there is no coverage. OD) Nothing, as the automobile was not being operated on a public highway.