February 21, 2017

Homework Help: business and finance

Posted by maria on Monday, August 13, 2012 at 12:47pm.

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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