Answered step by step
Verified Expert Solution
Question
1 Approved Answer
choices are: increase/ decrease yeso 9. Saving money on your auto insurance - Good and bad decisions Simone recently went online to review her auto
choices are:
increase/ decrease
yeso
9. Saving money on your auto insurance - Good and bad decisions Simone recently went online to review her auto insurance policy. Her policy is a Personal Automobile Policy and provides liability coverage with limits of $15/30/15, no medical payment insurance, and uninsured and underinsured motorist coverage with limits of $1/2. She has collision and comprehensive auto insurance, and both have a $100 deductible. Consider the following adjustments Simone could make to her policy and the effect they would have on her monthly premium. Indicate whether each change would be worth the additional cost or cost savings by selecting "Yes" or "No" in the final column of the table. Smart Savings on Insurance Premiums Effect on Premium? Worth It? Switch from limits of $15/30/15 to $250/500/250 Increase collision and comprehensive deductible to $1,000 Increase Coverage C Increase Decrease Suppose that Simone gets quotes from other auto insurance companies and finds that one company offers the same coverage as her current plan, but for $15 less per month. True or False: Rates can vary substantially across policies with identical coverage; therefore, Simone should consider switching to the cheaper company. O False O True 9. Saving money on your auto insurance - Good and bad decisions Simone recently went online to review her auto insurance policy. Her policy is a Personal Automobile Policy and provides liability coverage with limits of $15/30/15, no medical payment insurance, and uninsured and underinsured motorist coverage with limits of $1/2. She has collision and comprehensive auto insurance, and both have a $100 deductible. Consider the following adjustments Simone could make to her policy and the effect they would have on her monthly premium. Indicate whether each change would be worth the additional cost or cost savings by selecting "Yes" or "No" in the final column of the table. Smart Savings on Insurance Premiums Effect on Premium? Worth It? Switch from limits of $15/30/15 to $250/500/250 Increase collision and comprehensive deductible to $1,000 Increase Coverage C Increase Decrease Suppose that Simone gets quotes from other auto insurance companies and finds that one company offers the same coverage as her current plan, but for $15 less per month. True or False: Rates can vary substantially across policies with identical coverage; therefore, Simone should consider switching to the cheaper company. O False O TrueStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started