A homeowner bought a homeowner's insurance policy after purchasing a new home. The homeowner pays an annual premium of $975 for property coverage, with a deductible of $1,250 per claim. The homeowner pays this premium for 12 years, at which point a neighbor has an accident on the homeowner's property. The homeowner submits a claim for $15,000 to reimburse the neighbor for medical bills. If the claim is approved, how much will the insurance company pay the neighbor? $13,750 $15,000 $3,300 $1,250