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How much compensation will andrew receive from insurer

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Reference no: EM132952656

Problem 1: Andrew purchased his home in 2009 for $150,000. At the time he took purchased a homeowners policy with a $125,000 limit and an 80% coinsurance requirement. In 2015 Andrew's home incurs storm damage. The cash value of the damaged property is $50,000, and the repair costs are $75,000. At the time of the loss, Andrew's house had appreciated to $200,000 and he has maintained the same policy for the entire time that he has owned his home. How much compensation will Andrew receive from his insurer for the loss?

(A) $58,594

(B) $75,000

(C) $50,000

(D) $16,406

Reference no: EM132952656

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