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Sandy has a $286,503 insurance policy with 80% coinsurance clause and a $1,000 deductible. She sustains $59,994 in fire damage to her home when it
Sandy has a $286,503 insurance policy with 80% coinsurance clause and a $1,000 deductible. She sustains $59,994 in fire damage to her home when it catches on fire after a lightning strike during Tropical Storm Norm. It costs $282,417 to replace her home. She has a named storm deductible of 2%. How much will the insurer pay for her damage?
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