Coinsurance Formula

Coinsurance Formula

by lianet escano -
Number of replies: 2

Hi,

I still don't get the coinsurance formula 

Amount of Settlement if an insured has $60,000 insurance coverage on a building valued at $ 100,000. An 80% coinsurance applies. A $ 24,000 loss occurs.

if someone can help me to understand how works I will appreciated 

Lia

In reply to lianet escano

Re: Coinsurance Formula

by JOANNE RAMIREZ -

Hi,

I was just going through the coinsurance formula and got the answers wrong:-(.  I imagine you already got past this section because you posted on 10/3/17, it is 10/19/17.  I am going back to the beginning of the lesson later - taking a break at this time after practically going cross-eyed!

Joanne