Find what is the minimum amount of insurance required

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Reference no: EM132644634

Apply to the following situation:A commercial building that has a value of $600,000 is insured on a Broad Perils policy with a coverage limit of $400,000. and a deductible of $1,000.

Problem 1. If a new building has a replacement cost of $750,000, what is the minimum amount of insurance required to comply with an 80% coinsurance requirement?

Reference no: EM132644634

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