Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need parts f-i please 1. Liam has a PAP with the following coverages Liability coverages: $50,000/$100,000/$50,000 Medical payments coverage: $100,000 each person $250 deductible

I need parts f-i please image text in transcribed
image text in transcribed
1. Liam has a PAP with the following coverages Liability coverages: $50,000/$100,000/$50,000 Medical payments coverage: $100,000 each person $250 deductible Uninsured/Underinsured motorist: $50,000/$100,000/$50,000 Collision Loss: $500 deductible Other than Collision: $100 deductible a. Liam's daughter is driving the car for Uber. She sideswipes another motorist vehicle and damages the car. The damage to Liam's car is $5,000. The damage to the other motorist's car is $8,000. No one is hurt in the accident. b. Liam's son is driving a rental car while on vacation in Costa Rica. He drives the car into a telephone pole and does $5,000 damage to the car. c. Liam's wife hits a parked car at the grocery store. There is $2,000 damage to the parked car and $4,000 damage to Liam's car. d. Liam's son is drunk driving and crashes into another motorist's car. There is $10,000 damage to the other motorist's car and $8,000 damage to Liam's car. The other motorist sues for $20,000 for bodily injury and $5,000 for lost wages. Llam's son is not injured. e. Liam borrows his neighbor's car. He runs a red light and does $30,000 damage to the other motorist's car. The other motorist sues for $50,000 for bodily injury. There is $12,000 damage to the neighbor's car. Liam has $10,000 in injuries. The lawyers charge $15,000 to defend the case. The neighbor's policy is Liability coverages: $25,000/$50,000/$25,000 Medical payments coverage: $15,000 each person $2000 deductible Uninsured/Underinsured motorist: $25,000/$50,000/$25,000 Collision Loss: $2,000 deductible Other than Collision: $1,000 deductible How much will the neighbor's policy pay and how much does Liam's policy pay? f. Liam runs a red light and has a rear ends collision with another motorist. There is $7,000 of damage to his vehicle and $12,000 damage to the other motorist's vehicle. The other motorist sues for $50,000 for injuries. Liam has $15,000 in medical bills. The lawyers charge $25,000 to defend the case. g. Liam's mechanic is driving the car while it is in the mechanic's shop and runs into a telephone pole causing $10,000 damage to the car. h. Liam's wife is hit by a motorist the has 15/30/5 liability and $10,000 in medical payments to others. Liam's car has $15,000 in damages. Liam's wife sues the other driver for $50,000 for bodily injury and $5,000 for lost wages. How will Liam's wife recover all of the damages? 1. Liam hits a deer and totals the car. The actual cash value of the car is $19,800

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

Intermediate Financial Management

Authors: Brigham, Daves

10th Edition

978-1439051764, 1111783659, 9780324594690, 1439051763, 9781111783655, 324594690, 978-1111021573

More Books

Students also viewed these Finance questions

Question

=+f. Do you think this Fed chairman was a good appointment?

Answered: 1 week ago

Question

LO2.6 Explain how the market system deals with risk.

Answered: 1 week ago