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Ellen owns a home with a fair market value of $700K, land value of $150K, and a replacement cost of $500K. She carries $300K of

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Ellen owns a home with a fair market value of $700K, land value of $150K, and a replacement cost of $500K. She carries $300K of homeowners insurance, has a $1,000 deductible and an 80% coinsurance provision. A wind storm came through town that caused $30K in damage. How much will the insurance company pay for the damages? $30,000 $1,000 $21.500

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