Annual improvement factors tend to be greater in contracts where escalator clauses are included

A __________________________ on alienation is any condition that prohibits a property owner from transferring title to the property

Fill in the blank(s) with the appropriate word(s).

Which of the following statements describes how losses will be settled if a property insurance policy is written on a replacement cost basis?

A) Losses are settled without the applicable deductible. B) Losses are settled without a deduction for depreciation. C) The insurer must replace the damaged or destroyed property in lieu of a cash settlement. D) The policy is converted to a valued policy.