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Author Question: David owns a commercial building with a replacement cost of 4 million. The building is insured on a ... (Read 50 times)

nevelica

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on: Jul 11, 2018
David owns a commercial building with a replacement cost of 4 million. The building is insured on a replacement cost basis for 2.4 million under a fire insurance policy that has an 80 percent coinsurance clause.
 
  How much will David collect if the building sustains a covered fire loss with a replacement cost of 80,000?
  A) 50,000
  B) 60,000
  C) 66,667
  D) 80,000

Question 2

Deductibles are not used in which of the following type of insurance?
 
  A) life insurance
  B) health insurance
  C) property insurance
  D) disability income insurance


ansleighelindsey

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: B

Answer to Question 2

Answer: A


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