Which statement is NOT true regarding the relationship among the amounts of insurance?

The statement that all property losses under the basic form are settled fully is not accurate. In the context of property insurance, losses may be subject to certain limitations, deductibles, and specific terms outlined in the policy. The basic form typically provides coverage for a defined list of perils, and if a loss occurs, it doesn't guarantee that the insured will receive the full replacement cost or actual cash value without consideration of these conditions.

Understanding the nature of basic forms in property insurance is crucial; they list specific types of coverage and may impose limits on payouts based on the value of the property at the time of loss, replacement costs, and other factors. This means that not all losses will necessarily be covered in full, as they may be subject to depreciation or other limitations established by the insurer. Thus, the idea that all property losses under this form are settled fully does not align with how property insurance policies function, making it the incorrect statement in this context.