Jeremy lost a wing of his house in a storm, which resulted in an outlay of $250,000
Question:
Jeremy lost a wing of his house in a storm, which resulted in an outlay of $250,000 to replace it. The replacement cost on the house was $900,000, and he had $500,000 of insurance. His policy had an 80 percent coinsurance clause. How much will the insurance company reimburse him for?
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Jeremy would receive 173611 from the insu...View the full answer
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