Dan bought a $500,000 marina two years ago and obtained $400,000 of property insurance.Recently economic improvements on the lake has raised the property's value to $550,000 (the good news).But the general store had a fire causing $100,000 worth of damage (the bad news).How much will the insurance company pay to repair the store since Dan has a coinsurance clause in the marina's policy?

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The Answer of Dan bought a $500,000 marina two years ago and obtained $400,000 of property insurance.Recently economic improvements on the lake has raised the property's value to $550,000 (the good news).But the general store had a fire causing $100,000 worth of damage (the bad news).How much will the insurance company pay to repair the store since Dan has a coinsurance clause in the marina's policy?

Dan Bought a $500,000 Marina Two Years Ago and Obtained