Question 6 4 pts 15 years after your Wealth Management class is finished you are driving on vacation in Northern Wisconsin. Suddenly, and without warning, a deer jumps in front of your car and you hit the deer causing severe damage to your front bumper. What coverage (assuming you have it) can help pay for these damages? Comprehensive Personal Property Liability Collision
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How Much of a Major Auto Accident Loss Will Be Covered? Ashley Diamond of Estes Park, Colorado drives an eight-year-old Toyota valued at $5,600. She has a $75,000 personal automobile policy with $10,000 per-person medical payments coverage and both collision ($200 deductible) and comprehensive coverage. David Smith of Loveland, Colorado, drives a four-year-old Chevrolet Malibu valued at $9,500. He has a 25/50/15 family automobile policy with $20,000 in medical payments coverage and both collision ($100 deductible) and comprehensive insurance. Late one evening, while he was driving back from Rocky Mountain National Park, David's car crossed the centerline of the road, striking Ashley's car and forcing it into a ditch. David's car also left the road and did extensive damage to the front of a roadside store. The following table indicates the damages and their dollar amounts. (c) How much will David's bodily injury liability protection pay? (d) To whom and how much will David's property damage liability protection pay? Item Amount Bodily injuries suffered by Ashley $6,800 Bodily injuries suffered by Fran (a passenger in Ashley's car) $28,634 Ashley's car $9,600 Bodily injuries suffered by David $2,700 Bodily injuries suffered by Cecilia (a passenger in David's car) $12,845 David's car $9,500 Damage to the roadside store $14,123 Complete the following chart and use the information to answer these questions: (a) How much will Ashley's policy pay Ashley and Fran? (b) Will subrogation rights come into play? In what way?
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Kevin is considering purchasing a 12-year-old pickup truck for use when he goes hunting. The truck he has a Zion has 90,000 miles but is in generally good condition. What insurance coverage should Kevin include when purchasing an insurance policy for this truck? Please discuss liability coverage, medical payments coverage, uninsured motorist, and damage to insured's auto.
6) Melinda and Joe's teenage son, Jacob, borrowed the Escape and hit a fire hydrant while he was sending a text message. The cost to repair the damage is $2,800. How much will the insurance company pay on this claim? 7) A branch fell on the Escape during a storm and scratched the paint on the hood. It will cost $475 to repaint. How much will the insurance company pay on this claim? 8) Melinda hit a wall in a parking garage and caused $1,100 of damage to the Camry. Should she file a claim? 9) Which coverage will pay for Joe's medical and physical therapy bills for an injured shoulder related to a fender bender he caused? Will his lost wages from a week off work following the accident also be reimbursed? 10) Have Melinda and Joe had multiple tickets or accidents in recent years? Auto Policy Declarations Named Insured(s): Melinda Flores, Joe Soto Agent: Michael Frazier Phone: (520) 123-4567 Address: 333 Smiley Lane, Wake City, AZ 86725 Policy Number: 9 12 345678 Policy Period: April 1, 2015 to March 31, 2016 12:01 a.m. Standard Time Drivers Excluded: Jacob Soto Vehicles Covered: Vehicle ID Number: 2012 Toyota Camry 1FTCU88F34KD02005 Lienholder: Bonanza Credit Union Vehicle ID Number: 2010 Ford Escape RPFRE32875NG04560 Lienholder: None Total Amount Due: $1,155.96 Vehicle #1: 2012 Toyota Camry Coverage Limits Deductible Premium Liability: Bodily Injury Property Damage $250,000/person $500,000/accident $50,000/accident Not applicable $347.15 Uninsured Motorist Bodily Injury $250,000/person $500,000/accident Not applicable $68.30 Medical Payments $5,000/person Not applicable $28.50 Collision Actual cash value $1,000 $149.40 Comprehensive Actual cash value $100 $52.10 Total premium #1 $645.45 Use: This vehicle is driven 30-40 miles to work/school by a married female licensed for 24 years. Good driver discount: 20% Vehicle #2: 2010 Ford Escape Coverage Limits Deductible Premium Liability: Bodily Injury Property Damage $250,000/person $500,000/accident $50,000/accident Not applicable $292.04 Uninsured Motorist Bodily Injury $250,000/person $500,000/accident Not applicable $60.70 Medical Payments $5,000/person Not applicable $26.00 Collision Actual cash value $2,500 $91.55 Comprehensive Actual cash value $500 $40.22 Total premium #1 $510.51 Use: This vehicle is driven for pleasure <7,500 miles.
Jenny W.
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Cost Accounting A Managerial Emphasis
Principles of Accounting Volume 1: Financial Accounting
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