Final answer:
Ben will likely rely on his own insurance due to the hit-and-run, while Scott will be covered by the at-fault driver's insurance. Insurance companies collect premiums to create a pool of funds to cover accident costs for those insured. Proper coverage is essential for protection against various risks.
Step-by-step explanation:
Ben and Scott's situation demonstrates how automobile insurance works and how payments might be received following car accidents. Ben's truck is crushed by an uninsured hit-and-run driver, which typically means he would have to rely on his own insurance, assuming he has coverage for such incidents like collision or uninsured motorist coverage. On the other hand, Scott is hit by an insured driver; hence, the insurance of the at-fault party will likely cover the damages.
Using an example, where each of 100 drivers pays a $1,860 premium annually, the insurance company will collect $186,000, which allows for the costs of accidents that occur within the group to be covered. In a year, if 60 drivers have minor damages costing $100 each, 30 drivers have medium-sized accidents costing $1,000 each, and 10 drivers have large accidents costing $15,000 each, the total cost of $186,000 would be met by the insurance pool.
This is an example of risk-sharing where the premiums of many pay for the losses of a few. It is also critical for drivers to have the proper coverage to ensure protection against various risks, including hit-and-run scenarios or collisions with insured drivers.