Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fred currently has an auto insurance policy that has a $1,020 deductible on his vehicle. He has optional coverage under his accident benefits component of

Fred currently has an auto insurance policy that has a $1,020 deductible on his vehicle. He has optional coverage under his accident benefits component of his coverage that will provide him with towing charges up to 100 km, a replacement rental vehicle while repairs are being done up to maximum $1,035, and up to $1,035 of medical coverage for chiropractic care due to an injury. He has an accident and his expenses are towing (80 km driven to repair shop) $405; car rental expenses of $1,275 while his car is being repaired; and chiropractic coverage for a neck injury that cost $1,550. a. What would his claim be and the amount he would be covered for? (Omit the "$" sign in your response.) Total Claim Total coverage $ $ b. How much will he have to pay out of pocket himself? (Omit the "$" sign in your response.) Out of pocket expense
image text in transcribed
Fred currently has an auto insurance policy that has a $1,020 deductible on his vehicle. He has optional coverage under his accident benefits component of his coverage that will provide him with towing charges up to 100km, a replacement rental vehicle while repairs are being done up to maximum $1,035, and up to $1,035 of medical coverage for chiropractic care due to an injury. He has an accident and his expenses are towing (80 km driven to repair shop) $405; car rental expenses of $1,275 while his car is being repaired; and chiropractic coverage for a neck injury that cost $1,550. a. What would his claim be and the amount he would be covered for? (Omit the " $ " sign in your response.) b. How much will he have to pay out of pocket himself? (Omit the "\$" sign in your response.) Out of pocket expense

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_2

Step: 3

blur-text-image_3

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

Financial Deregulation A Historical Perspective

Authors: Alexis Drach, Youssef Cassis

1st Edition

978-0198856955

More Books

Students also viewed these Finance questions

Question

What are the stages of project management? Write it in items.

Answered: 1 week ago