Respuesta :
Jerry is paying a $150 monthly fee for insurance. He gets into an accident in June and is charged a total of $6000. His $10,000 coverage limit has a $1500 deductible. Jerry owes $2,650 for the month of June.
By insurance, what did you mean?
One strategy for managing risk is to get insurance. By purchasing insurance, you protect yourself against unanticipated financial losses. The insurance company pays you or a beneficiary of your choice when anything awful happens to you.
As a safety net, insurance helps you and your loved ones recover financially in the event of any unfavorable events, such as a fire, theft, legal action, or car accident. An insurance policy, which is a formal agreement between you and your insurance provider, is what you will receive when you purchase insurance.
Here, we'll figure out how much Jerry owes as of June 1.
Given Information
Premium= $150 (per month)
Total cost (Accident) = $6,000
Deductible = $1,500
Coverage limit = $4000
Amount due from Jerry in June = Coverage limit - Deductible + Premium (per month)
Liability of Jerry= $4,000 - $1,500 + $150
Liability of Jerry= $2,500 + $150
Liability of Jerry= $2,650
Jerry's debt for the month of June is therefore $2,650.
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The correct question is:
Jerry has an insurance policy with a premium of $150 per month. In June, he’s in an accident and receives a bill with a total cost of $6000. His deductible is $1500, and his coverage limit is $4000. How much does Jerry owe in June?
