If an insurance policy covers individual losses up to $10,000 and has a deductible of
$500, the insured will be paid how much in the event of a covered loss of $5,000?

Question

06-01-2021
Computers and Technology

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If an insurance policy covers individual losses up to $10,000 and has a deductible of
$500, the insured will be paid how much in the event of a covered loss of $5,000?

Sagot :

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topeadeniran2 topeadeniran2 · Answer 1 · 2021-01-11T13:18:10-05:00

topeadeniran2 topeadeniran2

11-01-2021

Answer: $4500

Explanation:

The deductible is the amount that the insured that is, the policy holder will have to pay. In this case, there is a covered loss of $5000 and the insured has a deductible of $500.

Therefore, the amount that the insured will be paid will be the difference between $5000 and the deductible of $500. This will be:

= $5000 - $500

= $4500

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Sagot :

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