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Michael’s basement recently flooded. He has a homeowner’s policy covering flood damage that has a $500 deductible. The total damages to the basement totaled $2500. How much will the insurance company pay
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Michael’s basement recently flooded. He has a homeowner’s policy covering flood damage that has a $500 deductible. The total damages to the basement totaled $2500. How much will the insurance company pay in this scenario? A. $500 B. $2500 C. nothing D. $2000

User Mattinbits
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2.8k points

2 Answers

4 votes
4 votes

The Correct Answer: $2000

Michael’s basement recently flooded. He has a homeowner’s policy covering flood damage-example-1
User Exagon
by
3.0k points
5 votes
5 votes

Answer:

D. $2000

Step-by-step explanation:

Calculation to determine How much will the insurance company pay in this scenario

Using this formula

Amount to pay=Total damages -Deductible homeowner’s policy covering flood damage

Let plug in the formula

Amount to pay=$2,500-$500

Amount to pay=$2,000

Therefore How much will the insurance company pay in this scenario will be $2,000

User Ian Overton
by
3.2k points
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