A property insured for $200,000 replacement cost has an 80% coinsurance requirement. The property's replacement cost is $300,000. A $60,000 loss occurs. How much does the insurer pay (ignoring deductible)?
A property insured for $200,000 replacement cost has an 80% coinsurance requirement. The property's replacement cost is $300,000. A $60,000 loss occurs. How much does the insurer pay (ignoring deductible)?