Question: please I need answers to my assignment I (3 Points) Smith's Garage owns a building with an actual cash value of $100,000, How much would

please I need answers to my assignment
I (3 Points) Smith's Garage owns a building with an actual cash value of $100,000, How much would Smith's Garage recover under its BPP in each of the following situations? Scenario Limit of Insurance Coinsurance ACV of Loss Deductible a $80,000 80% $10,000 $1,000 b $80,000 80% $90,000 $1,000 $100,000 80% $50,000 $1,000 2. (5 points) Wilson Manufacturing Company insures its factory and business personal property under a BPP with the following limits, which satisfy the policy's 80 percent coinsurance requirement: Building $500,000 Your Business Personal Property $800,000 Wilson's property was damaged by a covered peril. Indicate how much, if anything, Wilson's BPP should pay for each of the following aspects of the loss. Ignore any deductible. a) Several underground pipes, valued at $5,000, were destroyed. b) $1,300 cash was destroyed. c) Wilson was required by local ordinance to pay a $500 service charge to the local fire department
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
