Question
your client, narang park, has coverage of $90,000 on a dwelling. the replacement value of the dwelling is $125000.The policy coinsurance requirement is 80 percent.
your client, narang park, has coverage of $90,000 on a dwelling. the replacement value of the dwelling is $125000.The policy coinsurance requirement is 80 percent. the client has chosen a $500 deductible. Calculate the amount of loss reimbursement a client should receive for each of the following losses.
a. the amount of the loss is $60000
b.the amount of the loss is $90000
c.the amount of the loss is $$120,000
Now assume that the client increases the amount of coverage to $105,000. To offset some of the premium increase, the client chose to increase the deductible to $1050. The policy coinsurance requirement is 80 percent. The replacement value of the dwelling is $125,000. Calculate the amount of loss reimbursment for each of the following losses.
a. a. the amount of the loss is $90000
b.. the amount of the loss is $105000
c. the amount of the loss is $120000
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