How much will the teams insurer pay for the loss

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Reference no: EM13327696

The Lincoln Saltdogs is a professional minor league baseball team in the American Association league. The clubhouse is insured for $300,000 under a commercial property insurance policy with an 80 percent coinsurance clause. The current replacement cost of the clubhouse is $500,000. After a playoff game for the league championship, a whirlpool tub for injured players shorted out, and a fire ensued. The clubhouse sustained a $40,000 fire loss. Ignoring any deductible, how much will the team's insurer pay for the loss?

Reference no: EM13327696

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