Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lew had an accident and injured a driver and her car. He has auto insurance with the minimum coverage for Illinois. He also has medical

Lew had an accident and injured a driver and her car. He has auto insurance with the minimum coverage for Illinois. He also has medical payments coverage of $1,500 and a $500 deductible on his collision coverage. The driver's injuries cost $4,000 and damages to her car cost $5,000. Robert was not injured, but his car had damages costing $4,000. How much will the Insurance company pay for these claims?

A.

$10,500

B.

$12,000

C.

$14,000

D.

$12,500

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

Finance Introduction To Institutions Investments And Management

Authors: Ronald W. Melicher, Edgar A. Norton

12th Edition

0471675792, 9780471675792

More Books

Students also viewed these Finance questions

Question

4 How do you see the future of integrative approaches to coaching?

Answered: 1 week ago

Question

7 How can a culture encourage ethical (or unethical) behaviour?

Answered: 1 week ago