Question

If you have a $500 deductible and you have an accident that causes $4,500 in damages, the amount the insurance will be paying is?

Answer 1

The amount the insurance will be paying is $5,000

Deductible approach, while you buy an auto insurance policy, have to pay out-of-pocket inside the occasion of an twist of fate. as an example, if your deductible is $500 and also you’re in an twist of fate that causes $5,000 in damage for your vehicle, you pay $500 and the coverage agency can pay the final $4,500.

Collision/complete insurance pays an amount as much as the real cash cost of your automobile to either repair it or replace it as an instance, if your automobile is well worth $five,000 on the time of the accident, you are blanketed as much as $5,000. If the damage exceeds $5,000, the coverage company declares your automobile a total loss and will pay  $5,000.

Deductible is the quantity you may pay out of pocket on a declare before the insurance cash kicks in. You choose the quantity of your deductible whilst you purchase your car coverage coverage. And if your circumstances change, you may trade your deductible quantity.

Learn more about insurance here:-brainly.com/question/25855858

#SPJ4