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Louises chimney is hit by lightning destroying it. She has $213,128 insurance limit with replacement coverage on her homeowners' policy. The current cost to repair
Louises chimney is hit by lightning destroying it. She has $213,128 insurance limit with replacement coverage on her homeowners' policy. The current cost to repair the chimney is $5,526. The house was recently built and Louise had just moved in. Her flat deductible is $500 and her named storm deductible is 2%. Assuming she has met the coinsurance clause, how much will the insurer pay for her chimney? Calculate to two decimal points.
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