Don and judi had a 150000 repair bill on their home after, Ask an Expert

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Don and Judi had a $150,000 repair bill on their home after the tornado went through town. Their policy contained the usual 80% co-insurance clause. Their home's replacement value was $450,000; their policy coverage was $300,000 with a $500 deductible.(Round your percentage calculation to nearest whole number.)

a. How much insurance should they have carried to meet the co-insurance obligation?

b. What percentage of this loss will the insurance company pay?

c. How much of the loss will Don and Judi have to absorb? (Show all work.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92842020

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