Multiple Choice
The fire insurance policy on Dullard's home contained a 50 percent coinsurance clause. Dullard's home had a fair market value of $100,000. The face amount of the policy covering the home was $30,000. A hostile fire caused $30,000 worth of damage to the home. To what amount is Dullard entitled?
A) $100,000
B) $9,000
C) $30,000
D) $18,000
Correct Answer:
Verified
Correct Answer:
Verified
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