Linda’s home is worth $525,000. She has a homeowners policy with a $500,000 limit and a 1.5% deductible. When Linda’s husband sets their kitchen on fire while frying a turkey, he accidentally causes $36,000 in damages. How much can Linda and her husband expect to receive in their settlement?

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Linda’s home is worth $525,000. She has a homeowners policy with a $500,000 limit and a 1.5% deductible. When Linda’s husband sets their kitchen on fire while frying a turkey, he accidentally causes $36,000 in damages. How much can Linda and her husband expect to receive in their settlement?

Answer: 28125

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