Modified Payoff
Categories: Insurance
You thought you were getting the $290,000 after your $10,000 deductible on the home you built at the base of the dam when it broke. But unfortunately, your insurance company insured a ton of other homes in the area. And it too went broke.
So now you only get $79,000 from them. The rest will come from others...maybe. But most likely, that's it. Too bad for you. Shoulda gone to GEICO. You'll have to find a much cheaper home now.