The owner of property valued at 150,00 . insured the property for ...

[crazycityslicker]

The owner of property valued at 150,00 . insured the property for 75,00 . for one year at a premium rate of 4.90 per thousand. The policy carried a 75 coinsurance clause. A fire caused 56,250 in damages. Compute the amount the property insurance and repairs for fire damage cost the insured that year.

Question 2

Property valued at 200,00 . was insured for 140,000 . The policy contained a 60 coinsurance clause. A fire caused 150,00 . in damages. Compute the amount the property owner must pay if the property is repaired for 150,000.

[pocatato]

Answer to Question 1

19,117.50

Answer to Question 2

100,000

[crazycityslicker]

Thank you

[pocatato]

Happy to help you