i need help with coinsurance plzzzz
by Tracy Lynn Bagwell - i am getting ready for my state board and there are a few things i am not grasping the first is coinsurance can any one help me out plz ?
Re: i need help with coinsurance plzzzz
by Jan Bradburn- - Tracy,
Coinsurance is a tough concept. You have to work coinsurance questions by following these steps– in this order:
- Multiply the value of the property X the coinsurance percent
(usually 80%) - Divide the amount of insurance currently on the property by the
answer from #1 - Multiply the answer from #2 by the amount of the loss
You must do the math in this order to get the correct answer. Give it a try and let me know.
Jan