Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Finn Stone has a PAP with coverage of $15,000/$30,000 for bodily injury liability, $15,000 for property damage liability, $5,000 for medical payments, and a $1,000 deductible for collision insurance. How much will his insurance cover in each of the following situations? Will he have any out-of-pocket costs? Round the answers to the whole dollar, if necessary. Leave no cells blank, be sure to enter "0" wherever required.
- Finn loses control and skids on ice, running into a parked car and causing $3,635 damage to the unoccupied vehicle and $4,165 damage to his own car.
Total paid by the insurance company: $ Finn's out-of-pocket costs: $ - Finn runs a stop sign and causes a serious auto accident, badly injuring two people. The injured parties win lawsuits against him for $44,000 each.
Total paid by the insurance company: $ Finn's out-of-pocket costs (for both victims): $ - Finn's 18-year-old son borrows his car. He backs into a telephone pole and causes $1,300 damage to the car.
Total paid by the insurance company: $ Finn's out-of-pocket costs: $
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