What is meant by Lots 1 to 6 inclusive?
What is meant by Lots 1 to 6 inclusive?
A. Lots 1,2,3,4 and 5
B. Lots 1,2,3,4,5 and 6
C. Lots 2,3,4 and 6
D. Lots 1 and 6
Answer: B. Lots 1,2,3,4,5 and 6
An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?
An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B
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