John has 50/250/25 car insurance.  Last week he caused a car accident that damaged the following:: Al's car = $2000 damage Bob's car = $6000 damage Charlie's car = $5000 damage Telephone pole = $4000 damage Guard rail = $5000 damage Based on John's insurance, how much will the insurance company have to pay for the damage

Q: If the market value of your home is $250000, but the replacement cost of the structure is $190000,…

A:

Q: The Perrys bought a S241,000 townhome. They made a down payment of $42,000 and took out a mortgage…

A: To buy expensive and large ticket items like a house or a car we usually take loans. These loans are…

Q: Bryan and Geena had purchased a house 10 years ago. They insured the house for RM650,000 with the…

A: Replacement cost coverage clause- It is a property insurance clause that is defined in the insurance…

Q: Most home insurance policies cover jewelry for 1,000 and silverware for 2,500 unless items are…

A: The question is based on the concept of insurance claim and limit of insurance claim in each…

Q: The Butterfields recently lived through a major wind storm. The experts said it was not a tornado,…

A: To determine how much the Butterfields must pay out-of-pocket towards the repairs and how much their…

Q: a) John, age 60, purchases an annuity from an insurance company for $90,000. He is to receive $500…

A: a) John who aged 60 Purchased an annuity from a insurance company  Cost = $90000 Receives income per…

Q: Mr. Jones, the owner of a small service business, decided to give his personal truck to the business…

A: The following information given in the question: 1.  Decided to give his personal truck to the…

Q: If the market value of your home is $250000, but the replacement cost of the structure is $190000,…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Gerry likes driving small cars and buys nearly identical ones whenever the old one needs replacing.…

A: Answer:- Depreciation meaning:- Depreciation is basically the decrease in the value of the fixed…

Q: please consider the following questions : Student A buy a traffic insurance and the ferasures are as…

A: Traffic insurance, also known as auto insurance or car insurance, is a type of insurance that…

Q: Vanessa was driving Cara's vehicle. Vanessa did not see a stop sign and broadsided a vehicle in the…

A: Auto or vehicle insurance provides financial safety from the financial losses resulting from damages…

Q: Edna is a 62-year-old widow living in Quebec. She meets with Yolanda, her insurance agent. Edna…

A: OAS and CPP are two important Canadian programs that assist seniors: Starting at the age of 65, OAS…

Q: 1. Ken has $21,000 worth of property damage insurance and $500-deductible collision insurance. He…

A: A property damage insurance and collision insurance with a deductible, are in place. An incident has…

Q: You had a car accident and needed another car immediately because you rolled out any other forms of…

A: The question is based on the concept of decision making in management , the decision making process…

Q: A friend claims they purchased a new car for car for $15,000. A similar car that you purchased was…

A: Amount of car purchased by friend   =$15,000 Amount of car purchased by you      =$11,500 So , your…

Q: Joan Raft had taken out an $80,000 fire insurance policy for her new shop at a rate of $0.81 per…

A: Given, The fire insurance guidelines says that the person is only eligible for the refund only…

Q: You bought a house in 2004 for $150,000. Sadly, you suffered an injury. Your doctor prescribes water…

A: Here I suffered an injury and doctor prescribed water aerobics as physical therapy. So the cost of…

Q: Droid buys a vintage pacman machine for $12000. Since he doesn't know when he'll get another chance…

A: The value of loan is determined with the help of checking the monthly payment along with the…

Q: Suppose burglars trashed your apartment and stole your personal property. Your rent is $350 per…

A: Answer Option D. Section 1 Coverage D , 700   Explanation: Section 1 Coverage D provides protection…

Q: Most home insurance policies cover jewelry for $2,000 and silverware for $5,000 unless items are…

A: Solution: The insurance company will pay claim amount for each item or insurance coverage limit…

Q: Do not round-off anything until you obtain the final answer. Round your answers to the nearest…

A: Compound interest is a measure of calculating interest where the interest earned in each period is…

Q: Will purchased a home for $350,000 five years ago. He did significant renovations and additions…

A: Insurance refers to the coverage provided by the insurer to the insured in case of any uncertainty.…

Q: Karl Yates needs $5,000 to pay for the remodeling work on his house. A contractor agrees to do the…

A: Given, The amount required is $5,000 Rate of interest is 6.3% Term is 10 months

Q: Teri’s credit union offered her a $9,500 personal loan requiring no collateral with payments of…

A: APR is the annual percentage rate that refers to the cost of funds over the period of the loan. The…

Q: Todd is driving his SUV and Susan is a passenger. They are heading downtown for dinner. Todd’s PAP…

A: The driver and the passenger, both have a  PAP policy. In case of a claim, we need to figure out…

Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care…

A: The objective of the question is to determine the tax treatment of various expenses related to a…

Q: Meg (single taxpayer) pays $1,900 in student loan interest. Her AGI is $77,000. What is her For AGI…

A: Lets understand the basics. Student loan interest deduction is lessor of interest paid and $2,500…

Q: A home improvement firm has quoted a price of $9,800 to fix up Eric's backyard. Five years ago, Eric…

A: Answer : Present value = $7,500 Interest rate = r = 5.25% yearly Time = 5 years Future value =…

Q: Charles and his two friends were driving back from a football game in the snow and crashed into an…

A: The 25 in 25/50/10 refers to $25,000 and is the maximum amount that the insurer will pay out for…

Q: Use the information above to determine the following: the total amount your liability insurance…

A: Insurance policy = insurance policy is a contract between insurer and the policy holder. It is an…

Q: The bills from the injuries to the person in the parked car were $50,507, the damage to the car was…

A: The total amount that the insurance company will pay depends on the coverage limits of the policy…

Q: After Oliver Queen lost ownership of his company at Queen's consolidated, Mr. Queen no longer has…

A: Model A will take 12 years to surpass the cost of Model B that is 1 year of purchase cost and…

Q: Suppose you have $5,000 as a gift from your parents just after they kicked you out of the house. You…

A: Assets owned : Collection of world War 1 badges Automobile 5000 cash   Work in a factory where work…

Q: Mr. Russ T. Steele sells his old vehicle for $5000 (you get more if you private sale!) and pays cash…

A: The Equivalent Annual Cost: The Equivalent annual cost gives an estimate of the equivalent equal…

Q: The Rite family wishes to insulate the attic of their home to prevent heat loss. They are…

A: A financial concept known as net present value (NPV) calculates the present value of projected…

Q: You own a house that you rent for $1,400 per month. The maintenance expenses on the house average…

A: Market value of property is the value at which property can be sold immediately without any much…

Q: Caleb's duplex sold at a foreclosure auction for $140,000. At the time of foreclosure, he had not…

A: A loan is an amount given by the lender to the borrower at an agreed interest rate for a defined…

Q: Joshua sold his bike for 10% less than he paid for it. If he sold the bike for $585, how much did he…

A: Selling Price of Bike = $ 585loss on Selling = 10% of Purchase PricePurchase Price = ?

Q: Let's say you are an Uber driver that owns your car.  You paid $10,000 for it 4 years ago.   AS a…

A: The present value of money refers to the determination of the future amount at present with the help…

Q: You own a house that you rent for $1,200 a month. The maintenance expenses on the house average $200…

A: The maintenance expenses are the expenses or costs incurred on assets to keep assets safe.…

Q: Susan is in an indemnity health insurance plan that has a $500 deductible and a co- insurance…

A: The procedure normally operates as follows under an indemnity health insurance plan with a…

Property Insurance

Property insurance protects property from unforeseeable loss or damage and covers property owners' liability. Property insurance provides financial compensation to the property owner or renter in the event of damage or theft, as well as to someone other than the owner or renter if that person is injured on the property. Property insurance covers all risks of damage caused by theft, fire, flood, cyclones, lighting, and natural calamities, among other things. The primary goal of property insurance is to require the property owner to cover the loss. A monthly premium is paid to the insurance company, and in exchange, the insurance company pays for damage based on the agreement stated in the policy. Property insurance protects assets such as a vehicle, auto, car, rental home, house, and valuable property.