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Alberto has an HO-2 contract with $100,000 of Liability Coverage. He is ordered by a judge to pay his neighbor $162,000 because of bodily injuries
Alberto has an HO-2 contract with $100,000 of Liability Coverage. He is ordered by a judge to pay his neighbor $162,000 because of bodily injuries the neighbor suffered while he and Alberto were fishing in Alberto's old, undeclared 35 horse-power outboard motor boat. How will the contract respond?
$100,000 is paid to the neighbor | ||
$62,000 is paid to the injured party | ||
nothing is paid because liability arising out of this boat is excluded | ||
$61,500 is paid because of the deductible |
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