_________ is the maximum amount an insurance company will pay if an insured asset is deemed a total loss.

A. Insurance value

B. Actual value

C. Replacement value

D. Guaranteed Replacement Cost

Answer: Option A

Solution(By Examveda Team)

Insurance value is the maximum amount an insurance company will pay if an insured asset is deemed a total loss. It is the maximum amount an insurance company will pay if an insured asset is deemed a total loss. The asset's insured value can either be its replacement cost or its market value, depending on the insurance policy.