Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the given tables to find the annual premium for an automobile insurance policy if the insured lives in territory 2 and is classified good.

image text in transcribed

Use the given tables to find the annual premium for an automobile insurance policy if the insured lives in territory 2 and is classified good. The policy contains 500/1000/500 liability coverage. The vehicle is 3 years old and model class 2, the deductible for collision is $500, and the deductible for comprehensive is $0. Click the icon to see a hypothetical table of annual automobile liability insurance premiums. Click the icon to see a hypothetical table of annual Auto Insurance Premium Rates for Comprehensive and Collision. The total annual premium for the automobile insurance is $. (Simplify your answer.) X Data Table Data Table Annual Automobile Liability Insurance Premiums Territory 1 Territory 2 Liability GOOD OCC BAD Limits GOOD OCC BAD 50/100/50 385 600 465 354 552 752 100/300/100 425 682 1034 391 627 422 250/500/250 1465 758 1033 1423 697 952 500/1000/500 530 848 1201 487 1772 1114 GOOD = good credit; OCC = occasional payments past 30 days; BAD = judgments, collection, bankruptcy TI Print Done Annual Auto Insurance Premium Rates for Comprehensive and Collision Territory 1 Comprehensive Collision Model Vehicle $0 Deductible $250 Deductible $500 Deductible $1000 Deductible Class age GOOD OCC BAD GOOD BAD GOOD BAD GOOD BAD 0-1 584 934 1129 393 628 759 535 855 1279 753 1128 2-3 520 831 1005 350 559 678 449 718 1074 398 633 946 4-5 397 635 768 287 427 516 398 948 349 557 833 6+ 374 598 723 252 402 488 332 530 793 292 467 898 0-1 502 803 971 338 540 653 503 804 1202 443 708 1058 2-3 447 715 884 301 481 581 417 2 687 998 367 587 878 4-5 342 546 680 230 387 444 367 587 878 323 517 6+ 321 514 621 218 348 418 297 474 709 261 418 624 472 755 913 318 508 814 478 764 1142 672 1000 2-3 420 672 812 283 452 54 392 627 938 345 552 828 4-5 321 513 621 216 345 417 342 547 818 301 481 720 6+ 302 488 584 203 393 277 442 88 244 389 582 Territory 2 Comprehensive Collision Model Vehicle $0 Deductible $250 Deductible $500 Deductible $1000 Deductible Class age GOOD OCC BAD GOOD OCC BAD GOOD 0cc BAD GOOD BAD 0-1 514 822 994 34 553 888 492 787 1177 693 1038 2-3 457 732 884 308 492 594 413 1 681 988 384 582 870 4-6 349 559 67 236 37 454 384 582 871 321 513 767 329 528 221 354 427 305 488 730 289 430 842 442 707 854 297 475 574 483 739 1100 407 651 974 2-3 393 629 760 423 511 384 918 2 338 540 808 301 481 581 202 323 391 338 540 807 297 476 283 452 547 190 304 388 273 438 653 384 575 415 064 803 280 447 540 440 702 1051 387 819 925 2-3 370 591 715 249 398 481 381 3 577 883 318 508 780 4-5 283 452 548 190 304 387 315 503 752 277 443 882 8+ 514 179 288 407 224 358 538 GOOD = good credit; OCC = occasional payments past 30 days; BAD = judgments, collection, bankruptcy Print Done Use the given tables to find the annual premium for an automobile insurance policy if the insured lives in territory 2 and is classified good. The policy contains 500/1000/500 liability coverage. The vehicle is 3 years old and model class 2, the deductible for collision is $500, and the deductible for comprehensive is $0. Click the icon to see a hypothetical table of annual automobile liability insurance premiums. Click the icon to see a hypothetical table of annual Auto Insurance Premium Rates for Comprehensive and Collision. The total annual premium for the automobile insurance is $. (Simplify your answer.) X Data Table Data Table Annual Automobile Liability Insurance Premiums Territory 1 Territory 2 Liability GOOD OCC BAD Limits GOOD OCC BAD 50/100/50 385 600 465 354 552 752 100/300/100 425 682 1034 391 627 422 250/500/250 1465 758 1033 1423 697 952 500/1000/500 530 848 1201 487 1772 1114 GOOD = good credit; OCC = occasional payments past 30 days; BAD = judgments, collection, bankruptcy TI Print Done Annual Auto Insurance Premium Rates for Comprehensive and Collision Territory 1 Comprehensive Collision Model Vehicle $0 Deductible $250 Deductible $500 Deductible $1000 Deductible Class age GOOD OCC BAD GOOD BAD GOOD BAD GOOD BAD 0-1 584 934 1129 393 628 759 535 855 1279 753 1128 2-3 520 831 1005 350 559 678 449 718 1074 398 633 946 4-5 397 635 768 287 427 516 398 948 349 557 833 6+ 374 598 723 252 402 488 332 530 793 292 467 898 0-1 502 803 971 338 540 653 503 804 1202 443 708 1058 2-3 447 715 884 301 481 581 417 2 687 998 367 587 878 4-5 342 546 680 230 387 444 367 587 878 323 517 6+ 321 514 621 218 348 418 297 474 709 261 418 624 472 755 913 318 508 814 478 764 1142 672 1000 2-3 420 672 812 283 452 54 392 627 938 345 552 828 4-5 321 513 621 216 345 417 342 547 818 301 481 720 6+ 302 488 584 203 393 277 442 88 244 389 582 Territory 2 Comprehensive Collision Model Vehicle $0 Deductible $250 Deductible $500 Deductible $1000 Deductible Class age GOOD OCC BAD GOOD OCC BAD GOOD 0cc BAD GOOD BAD 0-1 514 822 994 34 553 888 492 787 1177 693 1038 2-3 457 732 884 308 492 594 413 1 681 988 384 582 870 4-6 349 559 67 236 37 454 384 582 871 321 513 767 329 528 221 354 427 305 488 730 289 430 842 442 707 854 297 475 574 483 739 1100 407 651 974 2-3 393 629 760 423 511 384 918 2 338 540 808 301 481 581 202 323 391 338 540 807 297 476 283 452 547 190 304 388 273 438 653 384 575 415 064 803 280 447 540 440 702 1051 387 819 925 2-3 370 591 715 249 398 481 381 3 577 883 318 508 780 4-5 283 452 548 190 304 387 315 503 752 277 443 882 8+ 514 179 288 407 224 358 538 GOOD = good credit; OCC = occasional payments past 30 days; BAD = judgments, collection, bankruptcy Print Done

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

Fundamentals Of Corporate Finance

Authors: David W Blackwell, Robert Parrino, David S Kidwell

1st Edition

0471270563, 9780471270560

More Books

Students also viewed these Finance questions