Register
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
41.4k views
0 votes
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
by
2.8k points

2 Answers

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
3.1k points
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
3.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.3m questions

4.2m answers

Other Questions

How can expansionary​ expenditure-based fiscal policy lead to crowding out in the​ economy? A. ​Expenditure-based fiscal policy increases the national​ debt, inducing​ forward-looking households and firms
Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated useful life is 5 years. The straight-line method is used for depreciation.
In order to attract younger customers to the Lacoste brand of clothing, CEO Robert Siegel made all of the major decisions in product planning, distribution, and promotion. He asked for no input from his
The method of appraisal in which the appraiser estimates the replacement cost of the building, deducts depreciation, and adds the value of the site is:________
The Yum and Yee food truck near the business school serves customers during lunch hour by taking orders and making fresh batches of stir-fry. Customers have only one choice during the lunch hour so that
Link Copied!