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1. While driving the Coupe, Shaela causes $50,000 of bodily injury and $15,000 of property damage to the other vehicle. She causes $3,000 of damage to her car. Insurance: Franklin: 2. Mr. Franklin has a television and DVD player stolen from the 2000 Grand Sedan. They were valued at $900 together. The thief also broke the window in the process that will cost $550 to replace. Insurance: Franklin: 3. Mrs. Franklin parks with pickup on a street covered with leaves. The leaves catch on fire and damage the pickup for $3,000. Insurance: Franklin:

1. While driving the Coupe, Shaela causes $50,000 of bodily injury and $15,000 of property damage to the other vehicle. She causes $3,000 of damage to her car. Insurance: Franklin: 2. Mr. Franklin has a television and DVD player stolen from the 2000 Grand Sedan. They were valued at $900 together. The thief also broke the window in the process that will cost $550 to replace. Insurance: Franklin: 3. Mrs. Franklin parks with pickup on a street covered with leaves. The leaves catch on fire and damage the pickup for $3,000. Insurance: Franklin:

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Name: Auto Insurance Claim Problem Solving The Franklin family has the following insurance coverage on their cars. Mr. and Mrs. Franklin are covered as well as their daughter Shaela. anklin Personal Auto Policy 100/300/50 Liability Insurance $5,000 Medical Payments Insurance $300,000 Uninsured Motorist Insurance Collision with a $500 deductible Comprehensive (other than collision) with a $250 deductible Cars listed in policy declarations are a 2000 Grand Sedan, 1996 Bull Pickup Truck, and a 1994 Cute Coupe. List the amount that will be covered by insurance and the amount that will have to be paid out of pocket by the Franklin family for each situation. Make sure to include which policy covers it. 1. While driving the Coupe, Shaela causes $50,000 of bodily injury and $15,000 of property damage to the other vehicle. She causes $3,000 of damage to her car. Insurance: Franklin: 2. Mr. Franklin has a television and DVD player stolen from the 2000 Grand Sedan. They were valued at $900 together. The thief also broke the window in the process that will cost $550 to replace. Insurance: Franklin: 3. Mrs. Franklin parks with pickup on a street covered with leaves. The leaves catch on fire and damage the pickup for $3,000. Insurance: Franklin: 4. Shaela is hit at an intersection by a hit and run driver. She has $15,000 worth of medical expenses and the Sedan sustains $20,000 in damage. Insurance: Franklin: 5. Mr. Franklin was trying to answer his cell phone that had fallen on the floorboards and hit a pedestrian. While trying to avoid the pedestrian, he veered off the road and hit a house on the corner. The pedestrian had $250,000 worth of injuries and the house sustained $75,000 in damage. Mr. Franklin's sustained $10,000 in damage. Insurance: Franklin:
Transcribed Image Text:Name: Auto Insurance Claim Problem Solving The Franklin family has the following insurance coverage on their cars. Mr. and Mrs. Franklin are covered as well as their daughter Shaela. anklin Personal Auto Policy 100/300/50 Liability Insurance $5,000 Medical Payments Insurance $300,000 Uninsured Motorist Insurance Collision with a $500 deductible Comprehensive (other than collision) with a $250 deductible Cars listed in policy declarations are a 2000 Grand Sedan, 1996 Bull Pickup Truck, and a 1994 Cute Coupe. List the amount that will be covered by insurance and the amount that will have to be paid out of pocket by the Franklin family for each situation. Make sure to include which policy covers it. 1. While driving the Coupe, Shaela causes $50,000 of bodily injury and $15,000 of property damage to the other vehicle. She causes $3,000 of damage to her car. Insurance: Franklin: 2. Mr. Franklin has a television and DVD player stolen from the 2000 Grand Sedan. They were valued at $900 together. The thief also broke the window in the process that will cost $550 to replace. Insurance: Franklin: 3. Mrs. Franklin parks with pickup on a street covered with leaves. The leaves catch on fire and damage the pickup for $3,000. Insurance: Franklin: 4. Shaela is hit at an intersection by a hit and run driver. She has $15,000 worth of medical expenses and the Sedan sustains $20,000 in damage. Insurance: Franklin: 5. Mr. Franklin was trying to answer his cell phone that had fallen on the floorboards and hit a pedestrian. While trying to avoid the pedestrian, he veered off the road and hit a house on the corner. The pedestrian had $250,000 worth of injuries and the house sustained $75,000 in damage. Mr. Franklin's sustained $10,000 in damage. Insurance: Franklin:
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