Marcus has a time-share property near a seashore in coastal region of France, which is insured for 250,000 under a commercial property insurance policy. The policy contains an 77 percent coinsurance clause. Marcus's property suffered a loss worth 150,000 due to a strong wave hitting the coastline. If the replacement cost of the property at the time of loss is 500,000, how much will he collect from his insurer if we ignore deductible and other fees? 

Answer rating: 100% (QA)

To calculate how much Marcus will collect from his insurer we first need to determine the minim... View the full answer