please consider the following questions : Student A buy a traffic insurance and the ferasures are as following. if the driver knocks down someone else on purpose, no payment. there is a limit of max payment of $6,000. any fees happened under $800 should be covered by the investors. the investor also needs to pay 20% out of his own pocket. student A causes an accident and a loss of $12,000. How much can he claim from the insurance company?

please consider the following questions : Student A buy a traffic insurance and the ferasures are as following. if the driver knocks down someone else on purpose, no payment. there is a limit of max payment of $6,000. any fees happened under $800 should be covered by the investors. the investor also needs to pay 20% out of his own pocket. student A causes an accident and a loss of $12,000. How much can he claim from the insurance company?

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter10: Protecting Your Property

Section: Chapter Questions

Problem 6FPE

See similar textbooks

Similar questions

Zachary Lee has a personal automobile policy (PAP) with coverage of $25,000/$50,000 for bodily injury liability, $25,000 for property damageliability, $5,000 for medical payments, and a $500 deductible for collision insurance. How much will his insurance cover in each of the following situations? Will he have any out-of-pocket costs?a. Zachary loses control and skids on ice, running into a parked car and causing $3,785 damage to the unoccupied vehicle and $2,350 damage to his own car.b. Zachary runs a stop sign and causes a serious auto accident, badly injuring two people. The injured parties win lawsuits against him for $30,000 each.c. Zachary’s 18-year-old son borrows his car. He backs into a telephone pole and causes $450 damage to the car.
You damage your car in an accident that is covered by your collision insurance, which has a $200 deductible. If the damage to your car costs $1,200, the insurance company would pay ___.
Rosa Valencia has a personal automobile policy (PAP) with coverage of $25,000/$50,000 for bodily injury liability, $10,000 for property damage liability that includes coverage for her vehicle, $5,000 for medical payments, and a $500 deductible for collision insurance. How much will her insurance cover in each of the following situations? Will she have any out-of-pocket costs? Rosa loses control when she swerves to miss a dog on the street, running into a parked car and causing $5,300 damage to the unoccupied vehicle and $3,750 damage to her own car. Rosa pulls out in front of another car and causes a serious auto accident, badly injuring three people. The injured parties win lawsuits against her for $35,000 for one individual, and the other two passengers claimed $5,000 each ($10,000 total). Rosa’s 16-year-old daughter borrows her car. She runs off the road when texting while driving and causes $450 damage to the car.
You had a car accident and needed another car immediately because you rolled out any other forms of transportation. A car dealer offers you $3,000 for your damaged car "as is" also, your insurance company estimates that there is $3,000 in damage to your car. The insurance company car fix the car right away in a repair shop belonging to this company. Because you have collision insurance with 1,000 deductibility provision, the insurance company mails you a check with only $2,000. The odometer reading on your damaged car is 48,000 KM. What should you do? Use seven-step procedure to analyze your situation. Additional information : -You have $8,000 in savings. - you can buy a newer car for $10,000 with odometer reading of 28,000 КМ. - after repairing the damage car, it can be sold for $5,000 - a discount repair shop charges $1,700 and requires 1 month. - a car rental for one month is $400.
Personal automobile policy coverage. Zachary Lee has a personal automobile policy [PAP] with coverage of $25,000/$50,000 for bodily injury liability, $25,000 for property damage liability, $5,000 for medical payments, and a $500 deductible for collision insurance. How much will his insurance cover in each of the following situations? Will he have any out-of-pocket costs? Zachary loses control and skids on ice, running into a parked car and causing $3,785 damage to the unoccupied vehicle and $2,350 damage to his own car. Zachary runs a stop sign and causes a serious auto accident, badly injuring two people. The injured parties win lawsuits against him for $30,000 each. Zachary’s 18-year old son borrows his car. He backs into a telephone pole and causes $450 damage to the car.
Imagine you are working for an insurance companies. An individual is calming 10,000$ worth of stolen objects on an insurance claim, but you suspect he may only as suffer a loss of 6,000$. You have the ability to offer a settlement. If accepted, the claim is close and the individual receives such payment. If rejected, a court will decide the payment is 6,000$ or 10,000$. If the individual really lost 10,000$, there is 60% chance the court will decide in his favor. If the individual only lost 6,000$, there is 60% chance the court will only grant him that amount. Propose a settlement amount that will allow you to figure out if the individual is lying or not. Between 7600 and 8400
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…
An insurance company estimates that drivers have 1% chance of getting intoan accident that will cost the driver $10,000. There are two types of drivers:the ones with $50,000 in the bank and the ones with only $5,000. In case of anaccident those with $5,000 will declare bankruptcy and creditors could onlyrecover $5,000. What is the fair price of insurance and will those with $5,000in the bank buy it? Why?
If you had 10/20/5 coverage and were in a car accident causing injury to three people with injuries totaling $13,200, $8,200, and $6,200. (Leave no cells blank - be certain to enter "0" wherever required.) a. How much would you have to pay out of pocket? Out of pocket: b. If you had 50/100/50 coverage for the same scenario, how much would you have to pay out of pocket? Out of pocket: c. What is the difference? Difference:
You are responsible for an automobile accident. Use the information below to determine: the total amount your liability insurance will pay for the accident the total amount your collision insurance will pay for the accident the amount of additional damages you are esponsible for as a result of the accident You and the driver of the other car were the only people involved in the accident. There were no injuries from the accident. You have a 50/100/50 liability insurance policy with no deductible You have collision insurance with a deductible of $500 The other car was valued at $25,000 and requires $10,000 in repairs Your car was valued at $20,000 and requires $15,000 in repairs
Zachary Lee has a personal automobile policy (PAP) with coverage of $50,000/$100,000 for bodily injury liability, $50,000 for property damage liability, $3,000 for medical payments, and a $500 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 your answer to the whole dollar, if necessary. Leave no cells blank, be sure to enter "0" wherever required. Zachary loses control and skids on ice, running into a parked car and causing $2,645 damage to the unoccupied vehicle and $4,500 damage to his own car. Total paid by the insurance company $ Zachary's out-of-pocket costs $ Zachary runs a stop sign and causes a serious auto accident, badly injuring two people. The injured parties win lawsuits against him for $50,000 each. Total paid by the insurance company $ Zachary's out-of-pocket costs (for both victims) $ Zachary's 18-year-old son borrows his car. He backs into…
Would Qualifying an Indorsement Be Ethical? Suppose you have taken a promissory note for $3,500 payable in 12 months with interest at 10 percent as payment for some carpentry work you did for a friend. You have some reason to believe the maker of the note is in financial difficulty and may not be able to pay the note when it is due. You discuss with an elderly neighbor the possibility of her buying the note from you as an investment, and she agrees to buy it from you for $3,000. Would it be ethical for you to indorse the note with a qualified indorsement ("without recourse")?