Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Swails have an 80 Percent co-insurance policy on their $100,000home. Explain what this means. If they have an 80 Percent co-insurance clause, a policy

The Swails have an 80 Percent co-insurance policy on their $100,000home. Explain what this means. If they have an 80 Percent co-insurance clause, a policy for $80,000, and suffer a covered loss of$40,000, how much will the insurer pay? If they have an 80 percent co-insurance clause, a $60,000 policy, and suffer a loss of 25% of their property, how much will the insurer pay?

Step by Step Solution

3.39 Rating (155 Votes )

There are 3 Steps involved in it

Step: 1

Coinsurance can be defined as the common agreement in ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Organic Chemistry

Authors: Graham Solomons, Craig Fryhle, Scott Snyder

11th edition

1118133579, 978-1118133576

More Books

Students also viewed these Finance questions

Question

3. What makes the blind spot of the retina blindpg105

Answered: 1 week ago