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What is the amount of compensation

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Reference no: EM131628829

Question: 1. A home valued at $295,000 is insured in a policy that contains an 80% coinsurance clause. The face value of the policy is $100,000. If the home is a total loss, what is the amount of compensation?

2. Marjorie Mays owns a home that has a replacement value of $395,000. How much insurance is required on the property for coverage up to the face value of the policy if an 80% coinsurance clause exists?

Reference no: EM131628829

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