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Author Question: Guiseppe's restaurant is valued at 182,000. The shop is insured for 130,000. Guiseppe has an 80 ... (Read 45 times)

Evvie72

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on: Jun 24, 2018
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?


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djofnc

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Reply #1 on: Jun 24, 2018
Answer to Question 1

16,500;

Answer to Question 2

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


Evvie72

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

raenoj

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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