Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kevin owns a nine-year old car with a lot of miles on it that he needs to get to his job 10 miles away. The

image text in transcribed
Kevin owns a nine-year old car with a lot of miles on it that he needs to get to his job 10 miles away. The car is worth only about $1,000 but it costs him $200 per year to keep collision insurance on it with a $500 deductible. Kevin never has more than about $500 in the bank and has no one to fall back on in an emergency. Which of the following would be the best advice you could give to Kevin regarding his collision insurance? A. Reduce the size of the deductible to cut the cost of the insurance. B. Keep paying for collision insurance even though it is expensive. C. Increase his liability insurance to save some money. D. Drop the collision insurance altogether to save the money

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

Amazon Fba E Commerce Business Model In 2020 $10 000

Authors: Roberts Ronald

1st Edition

1951595777, 978-1951595777

More Books

Students also viewed these Finance questions

Question

What is focal length? Explain with a diagram and give an example.

Answered: 1 week ago

Question

What is physics and how does it apply in daily life?

Answered: 1 week ago