If you have two fire insurance policies covering the same property, where Company A covers the dwelling for $200,000 and Company B covers the dwelling for $300,000. How much will Company A pay out on a $20,000 claim?

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If you have two fire insurance policies covering the same property, where Company A covers the dwelling for $200,000 and Company B covers the dwelling for $300,000. How much will Company A pay out on a $20,000 claim?

a. $8,000

b. $20,000

c. $12,000

d. $15,000

Answer: a

The above question If you have two fire insurance policies covering the same property, where Company A covers the dwelling for $200,000 and Company B covers the dwelling for $300,000. How much will Company A pay out on a $20,000 claim?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.