Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

13. Based on the following table, the insurer will cover $ of the loss (write the number in full with all the zeros) Actual value

image text in transcribed
image text in transcribed
13. Based on the following table, the insurer will cover $ of the loss (write the number in full with all the zeros) Actual value at time of report $4.000.000 Value last reported $3,500,000 Limit of insurance $2,500,000 Deductible $10.000 LOSS $3,000,000 14. Suppose Juan owns three buildings, each having an insurable value of $2 million. His blanket insurance limit is $5.4 million (coinsurance 90%) with an inflation guard of 10%. If the three building were totally destroyed at the end of the policy period (one year) the insurer would cover $ million (if no deductible) (round to the nearest hundredth)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Financial Management For Public, Health, And Not-for-Profit Organizations

Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell

6th Edition

150639681X, 978-1506396811

More Books

Students also viewed these Finance questions