Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You are the named insured under a PAP in which the only vehicle listed in the policy Declarations is your Ford Explorer. You are using
You are the named insured under a PAP in which the only vehicle listed in the policy Declarations is your Ford Explorer. You are using your Explorer to tow a trailer that you rented from U-Haul when you are involved in a collision. The cost to repair the damage to the Explorer is $15,000, and U-Haul is also demanding that you cover the $2,200 cost to repair the damage to its trailer. At the time of the accident, the replacement cost of the Explorer is $35,000 and its actual cash value (ACV) is $12,500. Assuming a Part D deductible of $500, how much of the loss to your Explorer and to the U-Haul trailer will be paid under Part D: Coverage for Damage to Your Auto of your PAP? (Round your answer to the nearest dollar. Do NOT include a dollar sign or a comma in your answer.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started