Pearson VUE: Property Insurance

S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 - Answer C The MAXIMUM amount a policy will pay in the event of a loss is called the: A. coinsurance amount B. deductible C...

S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 - C The MAXIMUM amount a policy will pay in the event of a loss is called the: A. coinsurance amount B. deductible C. limit...

Pearson VUE: Property Insurance Practice Exam (A+ RATED)2024||NEW!!QUESTIONS WITH 100% VERIFIED ANSWERS

Pearson VUE: Property Insurance Practice Exam Questions And Correct Answers S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 C The MAXIMUM amount a policy will pay ...

Pearson VUE: Property Insurance Practice Exam Questions And answers