Reliable Car Rental purchases an 80% property coinsurance policy on their building, valued at $330,000. The company insures the business for 80% of the value. If there is a fire at Reliable which causes $300,000 worth of damage, how much will the insurance pay and how much will Reliable pay?

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The Answer of Reliable Car Rental purchases an 80% property coinsurance policy on their building, valued at $330,000. The company insures the business for 80% of the value. If there is a fire at Reliable which causes $300,000 worth of damage, how much will the insurance pay and how much will Reliable pay?

Reliable Car Rental Purchases an 80% Property Coinsurance Policy on Their