Property Valued at $172,000 Was Insured for $100,000

question 47

Short Answer

Property valued at $172,000 was insured for $100,000. The policy contained a 90% coinsurance clause. A fire caused $77,400 in damages. Compute the amount the insurance company paid for repairs.

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Definitions:

Marijuana

A psychoactive drug from the Cannabis plant used for medical or recreational purposes.

Opiates

A group of drugs derived from opium that are used for their analgesic (pain-relieving) properties, but also have a high potential for addiction.

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A temporary disorder that causes fatigue, insomnia, and other symptoms as a result of air travel across time zones.

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The monthly process in which the uterus sheds its lining, resulting in bleeding through the vagina, in women and female mammals.