Jordan's house and property has a market value of $450,000.She would have to carry ________ of insurance to meet the coinsurance provisions.
A)$450,000
B)$400,000
C)$360,000
D)$$350,000

Question

Quizplus · Accepted Answer

Most homeowners insurance policies include a coinsurance clause, which typically requires the homeowner to insure the property for at least 80% of its value to receive full coverage on a claim. 80% of $450,000 is $360,000.

Jordan's House and Property Has a Market Value of $450,000 $$350,000