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Ann's Cards and Gift Shop was insured for $30,000 under a Business Income (and Extra Expense) Coverage Form with a 70 percent coinsurance clause. Ann
Ann's Cards and Gift Shop was insured for $30,000 under a Business Income (and Extra Expense) Coverage Form with a 70 percent coinsurance clause. Ann estimated her net income and all operating expenses to be $50,000 for the coming year. A fire at the shop caused damage that took one month to repair. During that month, Ann lost $2,000 in net income and continuing expenses and incurred $800 to rent space for temporary operations. How much did Ann's insurer pay for the loss under her Business Income (and Extra Expense) Coverage Form? Available answer options Select only one option A $800 B $1,400 C $2,400
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