business and finance

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?

  1. 👍 0
  2. 👎 0
  3. 👁 111

Respond to this Question

First Name

Your Response

Similar Questions

  1. business math

    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

    asked by na name on September 1, 2012
  2. Business Finance

    The property on 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

    asked by Terry on January 29, 2012
  3. Business Finance

    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

    asked by Renee on January 30, 2012
  4. Intermediate Accounting

    I am having a hard time calculating this my question is On April 1, 2011, the company paid an insurance company $4,000 for a two-year fire insurance policy. The entire $4,000 was debited to insurance expense. How do I calculate?

    asked by Kim on January 25, 2011
  5. Accounting

    On April 1, 2009, the company paid an insurance company $5,000 for a two-year fire insurance policy. The entire $5,000 was debited to insurance expense. What is the Dec. 31, 2009 adusting journal entry? Prepaid Insurance xx

    asked by Andrea on September 17, 2009
  1. Math

    Jane lives in Middleton, where the tax rate is 2.9%. Her property is assessed at $89,000. What is her tax? Find the total tax deductions for each of the following weekly paychecks. weekly pay $98.00 $240.00 $150.00 FICA (7.65) ? ?

    asked by Dev on January 12, 2010
  2. Algebra

    Leith bought a homeowner's insurance policy when he purchased his new home. He pays an annual premium of $775 for property coverage of $250,000 and liability coverage of $350,000. His deductible is $1,300. Leith pays this premium

    asked by Steve on April 28, 2018
  3. accounting 100

    The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2014: Accounts payable $ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000

    asked by Terry on May 7, 2015
  4. math

    A home with a market value of $320,000 is insured for $288,000 in a policy that contains an 80% coinsurance clause. Find the part of a loss due to fire that the insurance company will pay

    asked by damerius on July 12, 2016
  5. Finance

    An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the child's birth. The details of the policy are as follows: The purchaser (say, the parent)

    asked by Anonymous on March 12, 2013

More Similar Questions