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Calculate how much the 6. Pacesetter Company has experienced a number of losses. insurer will pay in each part. a. Pacesetter's business personal property is
Calculate how much the 6. Pacesetter Company has experienced a number of losses. insurer will pay in each part. a. Pacesetter's business personal property is insured on an actual cash value basis. A fire damaged the company office. A copy machine was destroyed by the fire. The copier cost $6,000 when it was purchased. At the time it was destroyed, it was worth $4,500 because of depreciation. A comparable replacement copier will cost $6,500. The property insurance policy includes a $500 deductible. How much will the insurer pay Pacesetter to settle this claim? (2 points) b. A windstorm damaged the building where maintenance work in performed on Pacesetter vehicles. The building was insured for $200,000 under a property insurance policy that included an 80 percent coinsurance clause. The building was valued at $300,000 at the time of a windstorm loss. The wind damage was $80,000. This property insurance coverage includes a $2,500 deductible. How much will the insurer pay to settle this claim? (2 points)
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