medium · Certified Financial Planner Risk Management
The Strauss family owns a home and carries a homeowners policy with a 200,000 limit. The replacement cost of the home is 300,000.
If a fire causes 60,000 in damages, and the policy has an 80% coinsurance requirement, how much will the insurance company pay (ignoring any deductible)?
- 50,000
- 60,000
- 48,000
- 40,000
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