Under the HO-3—Special Form (HO-3) Section I—Conditions, the Loss Settlement condition

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Under the HO-3—Special Form (HO-3) Section I—Conditions, the Loss Settlement condition

A. Establishes the process for determining the amount to be paid for a property loss.

B. Outlines a method for resolving disagreements between the insured and the insurer.

C. Provides that if the insured abandons the property after it is damaged, the insurer need not take over responsibility for it.

D. States that the insurer will adjust all losses with the insured or the insured’s spouse, if a resident in the same household.

Answer: A

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