Mark owns a building that he insured for $90,000. The replacement cost
Mark owns a building that he insured for $90,000. The replacement cost of the building is $100,000.
Mark’s property insurance policy has an 80 percent coinsurance clause. Ignoring any deductible, if Mark’s building is destroyed by a covered peril, how much will Mark receive from his insurer?
A) $80,000
B) $90,000
C) $101,250
D) $112,500
ANSWER
Answer: B
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