Question
Provide your analysis of how much each party will have to pay out of pocket. 2. What were the considerations or limitations each insurance company
Provide your analysis of how much each party will have to pay out of pocket.
2. What were the considerations or limitations each insurance company has in this accident?
3. Which insurance policy do you think would have be most expansive? The cheapest?
4. As a personal choice, which insurance would you have brought? What would be your decision factors?
5. Look at your own personal auto insurance, get a quote, do some quick research to determine what might cause you pay extra for your insurance policy? (Age? Driving a red sports car? Traffic tickets in the past?)
On the way to the lake last weekend, Sam \& Ann Smith were towing their 20 -foot boat on the back of their pickup truck. While approaching the green traffic light, Ann could see that another car, driven by Tom Jones, was going to run his red light and was not going to stop. Ann slammed on her breaks to attempt to stop before the intersection, but slid into the middle of the intersection anyway. Needless to say, you can imagine the impact that the Jones's car caused when it slammed into the side of the Smith's pickup truck. In a hurry, John \& Jane Doe might have been traveling too close behind the Smiths'. The Doe's ended up running into the back of the Smith's boat. Since the boat trailer wasn't quite hitched properly, the accident unhitched the Smith's boat trailer from the back of the pickup. The good news is that the boat only slid 20 feet away and didn't hit the video rental store. The bad news is that it knocked over a pedestrian named Mr. Bullwinkle. Note: Generally, when a boat is attached and being pulled by a vehicle, liability coverage extends from the vehicle to the trailer being pulled. For this exercise, please assume that the insurance company takes this same general liability approach. To be certain, you will want to check with your insurance company prior to towing a trailerStep by Step Solution
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