Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bill has motor vehicle insurance with bodily injury and property damage coverage in the amounts of 50/100/50. In addition, he has collision coverage with a

Bill has motor vehicle insurance with bodily injury and property damage coverage in the amounts of 50/100/50. In addition, he has collision coverage with a $500 deductible and comprehensive with a $100 deductible. Recently, Bill was at fault in an accident where he turned left at a traffic light into an oncoming car that had the right-of-way. Two individuals in the other car were injured. One had bodily injuries in the amount of $59,200 and the other had injuries totaling $44,300. Their vehicle, with replacement value of $29,000, was totalled.

Bill was not physically injured; however, his vehicle sustained damages in the amount of $10,200. How much will the insurance company pay on this accident? $

How much will Bill have to pay?

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

Numerical Solution Of The American Option Pricing Problem Finite Difference And Transform Approaches

Authors: Carl Chiarella, Boda Kang , Gunter H Meyer

1st Edition

9814452610,9814452637

More Books

Students also viewed these Finance questions