Delmond and Sons, LLC, owns an office which is insured under a Building and Personal Property Coverage Form (BPP).The new CEO of the company reduces the limit of insurance to $100,000 on the building with a $1,000 deductible. The policy has an Agreed Value optional coverage amount of $160,000 on the building. When a covered cause of loss damages Demond and Son's building in the amount of $80,000, the most the company should receive as reimbursement from the insurer is__________?

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ANSWER IS To calculate the reimbursement amount we first ... View the full answer