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Q26 Single choice

A commercial property policy has an 80% co-insurance clause. The building value is $1,000,000, but the client bought only $600,000 of insurance. A covered $100,000 partial loss occurs before any deductible.

What is the co-insurance result?

A
$75,000, because the client carried $600,000 of the $800,000 required amount.
B
$100,000, because co-insurance applies only to total losses.
C
$80,000, because the clause always pays 80% of every loss.
D
$60,000, because the client insured 60% of the building value.

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