REPLACEMENT INSURANCE
A farmer’s barn burned down and his wife called the insurance company. She told the insurance company, “We had that barn insured for fifty-thousand dollars, and I want my money.” The agent replied, “Whoa there, just a minute, insurance doesn’t work quite like that. First we will ascertain the value of what was insured and then provide you with a new one of comparable worth.” There was a long pause before the woman replied, “If that’s the way insurance works, then I’d like to cancel the policy I have on my husband.”
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