Earthquake endorsements usually have a separate deductible that is often set at:
Earthquake endorsements usually have a separate deductible that is often set at:
a. $75,000.
b. A percentage of the total loss.
c. $25,000.
d. $50,000.
Answer: B
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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