Your home and property have a market value of $240,000.To meet the coinsurance provision,you would need at least ________ of insurance.
A)$144,000
B)$168,000
C)$192,000
D)$216,000
E)none of the above

Question

Quizplus · Accepted Answer

The coinsurance provision requires that you have a certain percentage of insurance coverage in relation to the value of your property, typically 80%. In this case, you would need at least $192,000 (80% of $240,000) of insurance coverage to meet the coinsurance provision.

Your Home and Property Have a Market Value of $240,000