October 13, 2015

Homework Help: Business Finance

Posted by Renee on Monday, January 30, 2012 at 4:38pm.

The property of Al's garage is worth $300,000. Al has a fire insurance policy of $180,000 that contains an 80% coinsurance clause. What will the insurance company pay on a fire that causes $210,000 damage? If Al met the coinsurance requirement, how much would the insurance company have to pay?

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