## Related questions with answers

Question

Use the table for the percent of coverage to determine the (a) amount of insurance on the home, (b) amount of coverage for the garage, (c) amount of coverage for loss of use, and (d) amount of coverage for personal property.

$\begin{array}{|l|c|} \hline{\text { Coverage }} & \begin{array}{c} \text { Percent } \\ \text { Covered } \end{array} \\ \hline \text { Garage and other structures } & 10 \% \\ \hline \text { Loss of use } & 20 \% \\ \hline \text { Personal property } & 50 \% \\ \hline \end{array}$

Replacement value: $538,500; coverage: 90%.

Solution

VerifiedStep 1

1 of 5(a) $\$ 538,500 \times 90\% = \$ 484,650$

The amount of insurance on the home is the product of the replacement value and the coverage.

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