Insurance for boats can vary based on a number of factors. Which of the following statements is correct? OA) Outboard motors are mounted on the interior of the boat. OB) The horsepower of the motor has no impact on the premium. OC) Some home insurance policies may include coverage for small boats. D OD) Inboard motors are mounted on the outside of the boat. A building worth $100,000 is insured for $60,000 under a policy with a 90% co-insurance clause. Fire damages the building to the extent of $45,000. How much does the insurer pay? OA) $60,000.00 OB) $45,000.00 OC) $36,000.00 OD) $30,000.00
Insurance for boats can vary based on a number of factors. Which of the following statements is correct? OA) Outboard motors are mounted on the interior of the boat. OB) The horsepower of the motor has no impact on the premium. OC) Some home insurance policies may include coverage for small boats. D OD) Inboard motors are mounted on the outside of the boat. A building worth $100,000 is insured for $60,000 under a policy with a 90% co-insurance clause. Fire damages the building to the extent of $45,000. How much does the insurer pay? OA) $60,000.00 OB) $45,000.00 OC) $36,000.00 OD) $30,000.00
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Insurance for boats can vary based on a number of factors. Which of the following statements is correct?
OA) Outboard motors are mounted on the interior of the boat.
OB) The horsepower of the motor has no impact on the premium.
OC) Some home insurance policies may include coverage for small boats.
D
OD) Inboard motors are mounted on the outside of the boat.
Transcribed Image Text:A building worth $100,000 is insured for $60,000 under a policy with a 90% co-insurance clause. Fire damages the
building to the extent of $45,000. How much does the insurer pay?
OA) $60,000.00
OB) $45,000.00
OC) $36,000.00
OD) $30,000.00
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