Which statement regarding coverage provided by statutory conditions is true?

The statement that the insurer can repair, rebuild, or replace a damaged auto if they advise the insured in writing within 7 days after receipt of proof of loss is accurate. This provision is part of the statutory conditions that guide the responsibilities and rights of both the insurer and the insured in the event of a loss.

When the insurer communicates their intention to undertake the repair, rebuilding, or replacement within the specified timeframe, it allows for a clear and structured response to claims. This not only sets a timeframe for the insured to expect a resolution but also empowers the insurer to manage claims effectively while maintaining customer relationships. It demonstrates that the insurer has the authority and responsibility to address claims with expedience.

The other statements do not align with the statutory conditions. For instance, the option suggesting that the insured can repair their damaged auto immediately overlooks the need for proper procedural adherence that typically involves notifying the insurer first. The claim that the insured has no recourse but to accept whatever the insurer offers for repairs undermines the insured's rights, which often include the ability to negotiate terms or seek additional evaluations. Lastly, the notion that a new automobile will be replaced on a non-depreciated basis may not always hold true, as replacement policies can vary based on the