A contractor completes $85,000 worth of work on a residential project in Alabama. If the general liability insurance requirement is $300,000 per occurrence, what percentage of the project value does this represent?
Correct Answer
C) 353%
($300,000 ÷ $85,000) × 100 = 352.9%, rounded to 353%. This shows the insurance coverage relative to project value.
Why This Is the Correct Answer
($300,000 ÷ $85,000) × 100 = 352.9%, rounded to 353%. This shows the insurance coverage relative to project value.
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