Essay
Dan bought a $500,000 marina two years ago and obtained $400,000 of property insurance.Recently economic improvements on the lake has raised the property's value to $550,000 (the good news).But the general store had a fire causing $100,000 worth of damage (the bad news).How much will the insurance company pay to repair the store since Dan has a coinsurance clause in the marina's policy?
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Under the coinsurance clause,Dan agreed ...View Answer
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