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A building worth $100,000 is insured for $60,000 under a policy with an 80% co-insurance clause. Fire damages the building to the extent of $20,000. How much does the insurer pay? $15,000.00 $18,000.00 $16,000.00 $20,000.00

A building worth $100,000 is insured for $60,000 under a policy with an 80% co-insurance clause. Fire damages the building to the extent of $20,000. How much does the insurer pay? $15,000.00 $18,000.00 $16,000.00 $20,000.00

Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
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A building worth $100,000 is insured for $60,000 under a policy with an 80% co-insurance clause. Fire damages the building to the extent of $20,000. How much does the insurer pay? $15,000.00 $18,000.00 $16,000.00 $20,000.00 award up to 1 point
Transcribed Image Text:A building worth $100,000 is insured for $60,000 under a policy with an 80% co-insurance clause. Fire damages the building to the extent of $20,000. How much does the insurer pay? $15,000.00 $18,000.00 $16,000.00 $20,000.00 award up to 1 point
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