Question: I am stuck eBook Do the Math 10-2 Sufficient Dwelling Coverage? Colton Gentry of Lancaster, California, has owned his home for ten years. When he

I am stuck
eBook Do the Math 10-2 Sufficient Dwelling Coverage? Colton Gentry of Lancaster, California, has owned his home for ten years. When he purchased it for $178,000, Colton bought a $160,000 homeowner's insurance policy. He still owns that policy, even though the replacement cost of the home is now $298,000. a. If Colton suffered a $25,000 fire loss to the home, what percentage of the loss would be covered by his policy? Round your answer to one decimal place. 43.7 % What dollar amount of the loss would be covered by his policy? Enter the amount of the loss as a positive number. Round your answer to the nearest dollar. $ 13,425 b. How much insurance on the home should Colton carry now to be fully reimbursed for a fire loss? Round your answer to the nearest dollar. 13,425 Hide Feedback Incorrect Check My Work
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
