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9. Premises Number 1 Building Number 2: Occupancy: Storage Building used by Eastern Investors Location:...

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Accounting

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9. Premises Number 1 Building Number 2: Occupancy: Storage Building used by Eastern Investors Location: Rear 1005 Arlington Blvd., Greenville NC - Building Replacement Cost: $100,000 Personal Property Replacement Cost: 50,000 Limit of Insurance Building: $100,000 Personal Property: 50,000 Coinsurance 80% Deductible $1,000 Premises 1, Building 2: Fire destroys the building and causes a total loss to both building and contents. The cost to remove the debris is 35,000. The claims adjuster determined the value of the building after the loss was $150,000 and the contents were $52,000. How much will the Insurance Company pay? A. $201,000 B. $150,000 C. $185,000 D. $175,000

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