Answered: If Carissa has a $140,000 home insured…

If Carissa has a $140,000 home insured for $110,000, based on the 80 percent coinsurance provision, how much would the insurance company pay on a $14,200 claim?

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter8: Insuring Your Life

Section: Chapter Questions

Problem 6FPE

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If Carissa has a $140,000 home insured for $110,000, based on the 80 percent coinsurance provision, how much would the insurance company pay on a $14,200 claim?

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