The Davis Corporation (DC) owns a building covered by the ISO Earthquake and Volcanic Eruption Endorsement With Percentage Deductible with a 10% deductible. The building is valued at $1.2 million and insured for $1 million, which satisfies the coinsurance requirement. An earthquake causes $250,000 damage to DC's building. How much will DC receive in compensation for this loss? Nothing $130,000 $150,000 $225,000
The Davis Corporation (DC) owns a building covered by the ISO Earthquake and Volcanic Eruption Endorsement With Percentage Deductible with a 10% deductible. The building is valued at $1.2 million and insured for $1 million, which satisfies the coinsurance requirement. An earthquake causes $250,000 damage to DC's building. How much will DC receive in compensation for this loss? Nothing $130,000 $150,000 $225,000
Chapter11: Property Dispositions
Section: Chapter Questions
Problem 63P
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The Davis Corporation (DC) owns a building covered by the ISO Earthquake and Volcanic Eruption Endorsement With Percentage Deductible with a 10% deductible. The building is valued at $1.2 million and insured for $1 million, which satisfies the coinsurance requirement. An earthquake causes $250,000 damage to DC's building. How much will DC receive in compensation for this loss?Nothing$130,000$150,000$225,000
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