A business is insured with an 80% coinsurance plan where the value of the business is $140,000. The business has purchased $100,000 of insurance. There is a fire at the business, and it has $72,000 worth of damage. What amount is 80% of the value? How much of the damages will be covered by their insurance policy?

Question

Quizplus · Accepted Answer

The Answer of A business is insured with an 80% coinsurance plan where the value of the business is $140,000. The business has purchased $100,000 of insurance. There is a fire at the business, and it has $72,000 worth of damage. What amount is 80% of the value? How much of the damages will be covered by their insurance policy?

A Business Is Insured with an 80% Coinsurance Plan Where