1. If you financed a vehicle purchase, your lender will specifically require all but

to be named as an insured party in coverage.

a comprehensive coverage.

a collision coverage.

a liability coverage.

2. Laura Hall has a personal auto policy with coverage limits of 20/40/15. Laura has collision coverage with a $250 deductible. She runs a red light and causes an auto accident in which three people are injured. Each of them sues her for $21200 in personal injury and $5000 for vehicle damage (there is no injury to Laura or her car). How much will Laura have to pay out of pocket, and how much will her insurer pay?

Laura pays $23850 and insurer pays 58350

Laura pays $0 and insurer pays $68600

Laura pays $5000 and insurer pays $63600

Laura pays $23600 and insurer pays $55000

3. If John has a 20% chance of having his car stolen next year and the average loss of a stolen car is $18500, then the expected cost of the loss to him would be

$3700.

$18500.

$9250.

Cannot determine with information given.

4. Robert Williams has a personal auto policy with coverage limits of 25/50/10. Robert has collision coverage with a $420 deductible. He backs into his neighbors garage door, causing $920 damage to the garage and $2070 damage to his car. How much will Robert have to pay out of pocket, and how much will his insurer pay?

Harrison pays $420, and insurer pays $2570

Harrison pays $920 and insurer pays $2070

Harrison pays $420 and insurer pays 54667

Harrison pays $0 and insurer pays $2990

5. Gayle slid along a turn and crashed her 15-year-old convertible that has a value of $8300. Her auto liability limits are 50/100/10. Her collision coverage has a $700 deductible and her comprehensive coverage has a $440 deductible. There was no one else involved in this accident. Her estimate for repairs is $11800. Assuming the accident is covered under her policy, what amount will her insurance policy cover?

$11100

$7600

$8300

$11360

Please help for all 5 and provide an explanation on how you solved them if you can!