Question
Please complete these part of a question in EXEL, SHOW THE FORMULAS. Thank you! Personal Auto Policy Assume that Zabine Telan owns a PAP. Zabines
Please complete these part of a question in EXEL, SHOW THE FORMULAS. Thank you!
Personal Auto Policy
Assume that Zabine Telan owns a PAP. Zabines policy has the following limits:
Part A = $50,000 bodily injury each person; $100,000 bodily injury each accident; $50,000 property damage each accident
Part B = $5,000
Part C = $50,000 each person; $100,000 each accident
Part D = $1,000 deductible for collision; $500 deductible for other than collision
Assume that each of the events described in the following situations are distinct. The actual cash value of Zabines car is $21,000. The goal is to calculate the amount Zabines insurer will pay in total (i.e., net after any deductible that Zabine must pay).
A). Distracted while driving, Zabine slammed into a van. The van was occupied by two people (driver and passenger). The van was traveling down the highway and the accident was Zabines fault. After a successful lawsuit, the van driver was awarded $50,000 in damages for personal injuries and $22,000 in property damage to the van. The van passenger was awarded $60,000 in damages for personal injuries. To defend Zabine in court, the lawyers charged $7,000.
B). Mara, Zabine's daughter, is learning to drive when she causes damage to their house and their parked second vehicle. Damage to the inside wall and the garage door are extensive. Damage to Zabine's house is $50,000, the driven automobile is $6,000, and the second car is $3,000. The same insurance coverage covers both automobiles. It's important to keep in mind that in the event of a collision involving two vehicles covered by the same insurance policy, only one deductible will be required.
C). Zabine crashes into a parked automobile after she runs a stop sign, resulting in damage to both vehicles. Each vehicle sustains $8,000 worth of damage.
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