Ann's Cards and Gift Shop was insured for $30,000 under a Business Income (and Extra Expense) Coverage Form with a 70 percent coinsurance clause. Ann estimated her net income and all operating expenses to be $50,000 for the coming year. A fire at the shop caused damage that took one month to repair. During that month, Ann lost $2,000 in net income and continuing expenses and incurred $800 to rent space for temporary operations. How much did Ann's insurer pay for the loss under her Business Income (and Extra Expense) Coverage Form? 

Select only one option 

A $800 

B $1,400 

C $2,400 

D $2,800

Answer rating: 100% (QA)

The detailed answer for the above question is provided below The correct answer is C 2400 To calcula... View the full answer