Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Read the policy of each auto insurance holder and answer the questions. Liability 100/350/10 Medical Payments $10,000 Protection against uninsured motorists 20/50/5 Collision $250

image text in transcribed

image text in transcribed

2. Read the policy of each auto insurance holder and answer the questions. Liability 100/350/10 Medical Payments $10,000 Protection against uninsured motorists 20/50/5 Collision $250 deductible Comprehensive No deductible *protection against uninsured motorists: 20 means you will receive $20,000 of bodily injury coverage (or per person) with no more than $40,000 of coverage per accident. Any property damage claims are limited to $10,000. Mr. Patrick's car damages total $3400 and the medical bills for his injury totaled $14,250. The other car had damages of $6500. Three people in the other car were injured and each of their medical bills totaled $85,000, $25,000, and $130,000. Determine the amount of money that Patrick's insurance will cover and the amount of money Patrick will pay out of pocket. Determine the amount of money that Patrick's insurance will cover and the amount of money Patrick will pay out of pocket. Description Max amount insurance will cover Mary pays Insurance pays Patrick's auto damage Mary's medical payments Person #1 Person #2 Person #3 Other car damage The total amount that the insurance company pays to cover is: Patrick's total out of pocket cost is: 2. Read the policy of each auto insurance holder and answer the questions. Liability 100/350/10 Medical Payments $10,000 Protection against uninsured motorists 20/50/5 Collision $250 deductible Comprehensive No deductible *protection against uninsured motorists: 20 means you will receive $20,000 of bodily injury coverage (or per person) with no more than $40,000 of coverage per accident. Any property damage claims are limited to $10,000. Mr. Patrick's car damages total $3400 and the medical bills for his injury totaled $14,250. The other car had damages of $6500. Three people in the other car were injured and each of their medical bills totaled $85,000, $25,000, and $130,000. Determine the amount of money that Patrick's insurance will cover and the amount of money Patrick will pay out of pocket. Determine the amount of money that Patrick's insurance will cover and the amount of money Patrick will pay out of pocket. Description Max amount insurance will cover Mary pays Insurance pays Patrick's auto damage Mary's medical payments Person #1 Person #2 Person #3 Other car damage The total amount that the insurance company pays to cover is: Patrick's total out of pocket cost is

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical financial management

Authors: William r. Lasher

5th Edition

0324422636, 978-0324422634

More Books

Students also viewed these Finance questions

Question

=+1. Define net exports and net capital outflow. Explain

Answered: 1 week ago

Question

LO3.2 Describe demand and explain how it can change.

Answered: 1 week ago

Question

LO3.3 Describe supply and explain how it can change.

Answered: 1 week ago