Carolina's house burned and she lost household items worth a total of $50,000. House insured for $160,000, homeowner's policy coverage personal belongings up to 55% of insured value of the house.Calculate how much insursance coverage policy provides personal belongings and will she recieve payment for belongings?

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Asked Nov 10, 2019
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Carolina's house burned and she lost household items worth a total of $50,000. House insured for $160,000, homeowner's policy coverage personal belongings up to 55% of insured value of the house.Calculate how much insursance coverage policy provides personal belongings and will she recieve payment for belongings?

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Expert Answer

Step 1

Calculation of Amount of Insurance for Personal Belongings:

The amount of insurance for personal belongings is ...

Amountof Insurance = [Insurance Amount x Percentage of Insurance
=[S160,000 x55%
$88,000
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Amountof Insurance = [Insurance Amount x Percentage of Insurance =[S160,000 x55% $88,000

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