If a homeowners insured carries an amount of insurance on his home equal to at least 80% of the replacement cost of the dwelling, then what is the rule of indemnification that applies if the home is destroyed?

A) The insured may be indemnified for the entire replacement value of the property, regardless of the policy limits.
B) The insured may be indemnified for the replacement value of the property, up to the policy limits.
C) The insured will be indemnified 80% of the actual cash value of the property, regardless of the policy limits.
D) The insured will be indemnified for 80% of the depreciated value of the property.

Ans: B) The insured may be indemnified for the replacement value of the property, up to the policy limits.