Solve the Problem. -Haverty's Furniture Owns a Building with a Replacement Cost of Replacement

question 99

Multiple Choice

Solve the problem.
-Haverty's Furniture owns a building with a replacement cost of $590,000 which is insured for $371,700 with an 80% coinsurance clause. The building has a fire loss of $20,500. How much will the insurance company pay?

• A)$12,915
• B)$16,144
• C)$20,500
• D)$19,373

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Definitions:

Program Changes

Alterations or adjustments made to a set of planned actions or activities to achieve better outcomes or to adapt to new circumstances.

Problem Areas

General term referring to specific issues or challenges that need addressing or solving within a context.

Apprenticeship Program

A structured training program combining on-the-job training and classroom learning to equip individuals with specific skill sets for certain occupations.

Off-the-job Training

Training that takes place away from the primary work environment, often in a classroom setting, to develop skills and knowledge applicable to an employee's job.