Where a person owns a half interest in a house valued at $200,000 and has insurance on that property in the amount of $400,000, if the house burns down, causing a loss of $100,000, how much will that person collect?

Question

Quizplus · Accepted Answer

The person will only collect insurance on their half interest in the property, which is $200,000. Since the loss was $100,000, the person will collect half of that amount, which is $50,000.

Where a Person Owns a Half Interest in a House