Guiseppe's restaurant is valued at 182,000. The shop is insured ...

[Evvie72]

Guiseppe's restaurant is valued at 182,000. The shop is insured for 130,000. Guiseppe has an 80 coinsurance policy, and they have a fire which causes 150,000 in damage. How much will Guiseppe have to personally pay for damages?

Question 2

The Dairy Barn has an 80 property coinsurance policy on their building, valued at 60,000. The store suffers 22,000 in fire damage. The owners have insuranced the store for 40,000. How much will the insurance company pay?

[djofnc]

Answer to Question 1

16,500;

Answer to Question 2

18,260; 60,000  0.80 = 48,000; 40,000  48,000

[Evvie72]

Thanks for the timely response, appreciate it

[chereeb]

Wow, this really help