Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
You own a home with a market value of $400,000. Your home insurance policy has an 80% coinsurance clause. You buy $300.000 of property insurance.
You own a home with a market value of $400,000. Your home insurance policy has an 80% coinsurance clause. You buy $300.000 of property insurance. A tree falls on your house and you have a $50,000 of damages. How much will the insurance company pay for this claim? (assume no deductible) A. $46,875 B. $50,000 C. 50 D. $37,500
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started