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blondinia [14]
3 years ago
8

Kurt has 25/50/25 auto insurance coverage. One evening he lost control of his vehicle, hitting a parked car and damaging a store

front along the street. Damage to the parked car was $9,000, and damage to the store was $20,300.
Required:
a. What amount will the insurance company pay for the damages?
b. What amount will Kurt have to pay?
Business
1 answer:
larisa86 [58]3 years ago
8 0

Answer:

A. $25,000

B. $4,300

Explanation:

A. Calculation to determine What amount will the insurance company pay for the damages

Using this formula

Insurance payment=(Claim amount, Policy limit)

Let plug in the formula

Insurance payment= $25,000

Therefore the amount that the insurance company will pay for the damages is $25,000

B. Calculation to determine What amount will Kurt have to pay

Using this formula

Personal liability=Claim amount - Insurance payment

Let plug in the formula

Personal liability=($9,000 + $20,300) - $25,000

Personal liability=$29,300-$25,000

Personal liability=$4,300

Therefore Kurt have to pay $4,300

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1.

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An example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.

<h3>What is a liquidated damages?</h3>

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In conclusion, the example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.

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