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Which of the following is NOT a method for settling a casualty insurance Claim?

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Question: Which of the following is NOT a method for settling a casualty insurance claim?

Options:

  1.  Actual cash value
  2.  Cost to repair
  3.  Cost to replace
  4.  Insurable interest at the time of loss
  5.  Insurable interest at the inception of the insurance policy

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5. Insurable interest at the inception of the insurance policy

Insurable interest at the inception of the insurance policy is NOT a method for settling a casualty insurance claim.

More information:

Anything which is subjected to financial loss is protected by investment or coverage known as insurable interest.

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