# Financial problems

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• Publicado : 18 de diciembre de 2011

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Determining the Claim Amount ( with Deductibles) For each of the following situations, what amount would the insurance company pay?
a. Wind damage of \$860; theinsured has a \$ 500 deductible
\$ 860- \$ 500 = \$ 360 the insured would have to pay.
b. Theft of an entertainment system worth \$ 3,500; the insured has a \$1,500 deductible.
\$ 3,500 - \$ 1,500 = \$ 2,000 the insured would have to pay.
c. Vandalism that does \$ 650 of damage to a home; the insured has a \$ 1,000deductible.
Zero; deductible exceeds loss.

Calculating Auto Liability Claims Coverage Oliver Ripley has 25/50/10 automobile insurance. If two other people are awarded\$ 40,000 each for injuries in an auto accident in which the insured was judged at fault, how much of this judgment would insurance cover?
Please note themiddle figure \$50—Which is \$50,000, \$50,000 is the maximum amount the insurance company would pay for all claims in the accident.

Determining a Property DamageLiability Claim- Eric Porter has 20/40/15 auto insurance coverage. Eric was celebrating a job promotion he received and while driving home he lost control of hisvehicle and he ran into a parked vehicle and damaged a store front in the process. Damage to parked vehicle was \$ 7,450 and damage to the store front was \$14,600. What amount will the insurance company pay for the damages? (Please note; the last figure \$15- represents \$ 15,000; \$ 15,000 is the amount that the insurancecompany will pay. \$ 15,000 represents the policy limit). What amount will Eric have to pay? \$7,450 + 14,600- \$ 15,000 = \$7,050- the amount Eric will have to pay.