An insured’s building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

Insurance

Are you looking for the correct answer to the question “An insured’s building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?”? If that’s the case, you don’t have to worry anymore. Azanswer team is here with the right answer to your question. Please check below to know the answer.

An insured’s building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

a) $0

b) $30,000

c) $32,000

d) $40,000

Answer: B

The above question An insured’s building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.