Solution-What is the insurers liability for the loss

What is the insurers liability for the loss

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Reference no: EM131086717

Insurance

A Building is insured for $200,000 with commercial property insurance policy.
A policy has an 80% coinsurance clause.
A building had a flood and incurred a $50,000 loss.
A replacement cost of the building at the time of the flood was $500,000.

Show work, calculations, and small explanation

1. What is the insurer's liability for the loss?

2. If the building carried a $500,000 property insurance policy whilst incurring the loss, how much would the building collect?

Reference no: EM131086717

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What is the insurers liability for the loss

Reference no: EM131086717

Reference no: EM131086717

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