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keyone keyone
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6 years ago
The value of a home is $50,000, and the homeowner policy covering it contains an 80% coinsurance clause. Assume the home is insured for $30,000 and a $12,000 loss occurs. How much will the insured recover? (Ignore the ACV calculation and assume there is no fraud or other unusual circumstances surrounding the loss.)
A) $12,000
B) $9,000
C) $16,000
D) The answer cannot be determined by the facts given.
Textbook 
Introduction to Risk Management and Insurance

Introduction to Risk Management and Insurance


Edition: 10th
Authors:
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giddugiddu
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#1
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6 years ago
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