Question

Tina purchased a personal umbrella policy with a $1 million limit. Her insurer required her to carry liability limits of 250/500/50 under her auto insurance policy. The personal umbrella policy was written with a $1,000 self-insured retention. Tina was responsible for an auto accident in which the other driver was severely injured. The other driver's bodily injuries were $400,000 and the property damage was $20,000. How much will the insurer pay under Tina's umbrella policy

Answer 1

Answer: $150000

Explanation:

The Personal Umbrella Policy helps in the provision of protection against a catastrophic judgement. Also, the excess liability insurance will be provided in amounts starting from $1-$10 million.

Based on the information given in the question, the amount that the insurer will pay under TIna's umbrella policy will be:

= $400,000 - $250,000

= $150,000

Answer 2

The insurer will pay $150,000 under Tina's umbrella Policy wherein it not only covers the policy owner but also other family members or households.

What is a Personal Umbrella Policy?

Umbrella insurance is a type of personal liability insurance that covers claims in excess of homeowners, car policy, or shipping policy. The umbrella insurance covers not only the policy owner but also other family members or households.

The Personal Umbrella Policy helps in the provision of protection against a catastrophic judgment. Also, the excess liability insurance will be provided in amounts starting from $1-$10 million.

Based on the information, the amount that the insurer will pay under Tina's umbrella policy will be:

$= \ 400,000 - \ 250,000\\\\= \ 150,000$

Hence, The insurer will pay $150,000 under Tina's umbrella Policy.

To learn more about umbrella Policy insurance, refer to the link:

https://brainly.com/question/25170222