Your insured's automobile is damaged by another automobile owned and driven by his brother. The brother is found responsible for the $1,000 damage but does not carry any automobile insurance. Your insured carries a standard O.A.P. 1 Owner's Policy with Liability, standard Accident Benefits, Uninsured Automobile and Direct Compensation-Property Damage, but with no Collision coverage. How much will your insured's policy pay? Nothing, as your insured had no collision insurance. Nothing, since the other driver is related to the insured. $500.00

Your insured's automobile is damaged by another automobile owned and driven by his brother. The brother is found responsible for the $1,000 damage but does not carry any automobile insurance. Your insured carries a standard O.A.P. 1 Owner's Policy with Liability, standard Accident Benefits, Uninsured Automobile and Direct Compensation-Property Damage, but with no Collision coverage. How much will your insured's policy pay? Nothing, as your insured had no collision insurance. Nothing, since the other driver is related to the insured. $500.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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