An insured has two property policies covering the same dwelling — Policy A with a $200,000 limit and Policy B with a $100,000 limit. A $60,000 covered loss occurs. Under the pro-rata "other insurance" clause, how much does Policy A pay?
An insured has two property policies covering the same dwelling — Policy A with a $200,000 limit and Policy B with a $100,000 limit. A $60,000 covered loss occurs. Under the pro-rata "other insurance" clause, how much does Policy A pay?