Sasha Dozier had a homeowner’s insurance policy with $175,000 of coverage on the dwelling. Would a...
Sasha Dozier had a homeowner’s insurance policy with $175,000 of coverage on the dwelling. Would a 90 percent co-insurance clause be better than an 80 percent clause in such a policy? Give reasons to support your answer.
Homework Answers
Co insurance is a property insurance provision that penalizes the insured in case of underreporting the value of tangible property.
In the case of underreporting by the insured, the insured would recover less amount in case of loss. The example is given in the excel.
As we can see in the excel sheet, the penalty amount increases
when the co-insurance clause is higher. So, for sasha dozier, 80%
co-insurance clause is better.
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Sasha Dozier had a homeowner’s insurance policy with $175,000 of
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