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The policyholder hit another vehicle as he swerved to avoid a hubcap lying in the middle of the road. In this two- car accident, the other driver's car sustained $3,500 in damage. This was the policyholder's first accident. Based on his auto policy, how much of the costs will the insurance policy cover?

The policyholder hit another vehicle as he swerved to avoid a hubcap lying in the middle of the road. In this two- car accident, the other driver's car sustained $3,500 in damage. This was the policyholder's first accident. Based on his auto policy, how much of the costs will the insurance policy cover?

Microeconomics: Principles & Policy
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter22: Contemporary Issues In The U.s. Economy
Section: Chapter Questions
Problem 5DQ
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State Farm State Farm Fire and Casualty Company 11350 Johns Creek Parkway Duluth, GA 30098-0001 AT2 Matt & Sarah Justice 123 GetTheW St. Atlanta, GA 30306 YEAR 2007 NAMED INSURED SYMBOLS A DO NOT PAY PREMIUMS SHOWN ON THIS PAGE. IF AN AMOUNT IS DUE, THEN A SEPARATE STATEMENT IS ENCLOSED. YOUR CAR C D G H JINA M R1 U MAKE TOYOTA MODEL CAMRY COVERAGE & LIMITS 11-2097-4 P Liability Coverage Bodily Injury Limits Each Person, Each Accident A $100,000 $300,000 Property Damage Limit Each Accident $100,000 Medical Payments Coverage Limit- Each Person $1.000 BODY STYLE 4DR Comprehensive Coverage - $200 Deductible Collision Coverage - $1,000 Deductible Emergency Road Service Coverage Car Rental and Travel Expenses Coverage Limit- Car Rental Expense Each Day. Each Loss 80% menntunar $1.000 Uninsured Motor Vehicle Coverage (Difference-In-Limits) Bodily Injury Limits Each Person, Each Accident $50,000 $100,000 Property Damage Limit ($250 Deductible) Each Accident $50.000 Total premium for JUL 21 2017 to JAN 16 2018. 23311-4-P FIRE OVL DECLARATIONS PAGE AGENT POLICY NUMBER 35 5055-A POLICY PERIOD JUL 21 2017 to JAN 16 2018 12:01 A.M. Standard Time PHONE: (770) VEHICLE ID. NUMBER 4T1B PREMIUMS 603011H300 $544.58 $54.55 $66.98 $193.70 $4.39 $27.07 $99.19 $990.46 CLASS PAGE 1 OF 2 This is not a bill.
Transcribed Image Text:State Farm State Farm Fire and Casualty Company 11350 Johns Creek Parkway Duluth, GA 30098-0001 AT2 Matt & Sarah Justice 123 GetTheW St. Atlanta, GA 30306 YEAR 2007 NAMED INSURED SYMBOLS A DO NOT PAY PREMIUMS SHOWN ON THIS PAGE. IF AN AMOUNT IS DUE, THEN A SEPARATE STATEMENT IS ENCLOSED. YOUR CAR C D G H JINA M R1 U MAKE TOYOTA MODEL CAMRY COVERAGE & LIMITS 11-2097-4 P Liability Coverage Bodily Injury Limits Each Person, Each Accident A $100,000 $300,000 Property Damage Limit Each Accident $100,000 Medical Payments Coverage Limit- Each Person $1.000 BODY STYLE 4DR Comprehensive Coverage - $200 Deductible Collision Coverage - $1,000 Deductible Emergency Road Service Coverage Car Rental and Travel Expenses Coverage Limit- Car Rental Expense Each Day. Each Loss 80% menntunar $1.000 Uninsured Motor Vehicle Coverage (Difference-In-Limits) Bodily Injury Limits Each Person, Each Accident $50,000 $100,000 Property Damage Limit ($250 Deductible) Each Accident $50.000 Total premium for JUL 21 2017 to JAN 16 2018. 23311-4-P FIRE OVL DECLARATIONS PAGE AGENT POLICY NUMBER 35 5055-A POLICY PERIOD JUL 21 2017 to JAN 16 2018 12:01 A.M. Standard Time PHONE: (770) VEHICLE ID. NUMBER 4T1B PREMIUMS 603011H300 $544.58 $54.55 $66.98 $193.70 $4.39 $27.07 $99.19 $990.46 CLASS PAGE 1 OF 2 This is not a bill.
The policyholder hit another vehicle as he swerved to avoid a hubcap lying in the middle of the road. In this two- car accident, the other driver's car sustained $3,500 in damage. This was the policyholder's first accident. Based on his auto policy, how much of the costs will the insurance policy cover? $0 $1000 $2500 $3500
Transcribed Image Text:The policyholder hit another vehicle as he swerved to avoid a hubcap lying in the middle of the road. In this two- car accident, the other driver's car sustained $3,500 in damage. This was the policyholder's first accident. Based on his auto policy, how much of the costs will the insurance policy cover? $0 $1000 $2500 $3500
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