Essay
Dan bought a R5000 000 marina two years ago and obtained R4 000 000 of property insurance.Recently economic improvements on the lake has raised the property's value to R5 500 000 (the good news).But the general store had a fire causing R1 000 000 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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