Question

Matthew is 26 years old. He buys 50/100/25 liability insurance, and collision and comprehensive insurance, each with $250 deductibles.
What is his total annual premium?

Answer 1

Answer:

$1,846.9

Step-by-step explanation:

Liability Insurance 50/100/25

Where 50/100=$310; and 25=$175. The equation is ($310+$175=$485)

Collision & Comprehensive Premiums

Where Deductible=$250; Collision=$185; and Comprehensive=$102. The equation is ($250+$185+$102=$537)

He gets a 25-29 aged male rating factor of 1.55 for each of them. Liability's equation is $310*1.55=$480.5; and for Collision and Comprehensive the equation is $(185+102)*102=$344.4

Added all up ($485+$537+$480.5+$344.4=$1,846.9)

Answer 2

Answer: 1,196.60

Step-by-step explanation: I took the test!