Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

David is 22 years old. He buys 100/300/50 liability insurance, collision insurance with a \[tex]$100 deductible, and comprehensive insurance with a \$[/tex]500 deductible.

What is his total annual premium?

Liability Insurance
\begin{tabular}{|c|c|c|}
\hline Type & Amount & Premium \\
\hline Bodily Injury & 25/50 & \[tex]$220 \\
& 50/100 & \$[/tex]310 \\
& 100/300 & \[tex]$450 \\
\hline Property Damage & 25 & \$[/tex]175 \\
& 50 & \[tex]$245 \\
& 100 & \$[/tex]375 \\
\hline
\end{tabular}

Collision & Comprehensive Premiums
\begin{tabular}{|c|c|c|}
\hline Deductible & Collision & Comprehensive \\
\hline \[tex]$100 & \$[/tex]215 & \[tex]$129 \\
\hline \$[/tex]250 & \[tex]$185 & \$[/tex]102 \\
\hline \[tex]$500 & \$[/tex]148 & \$85 \\
\hline
\end{tabular}

Rating Factor
\begin{tabular}{|c|c|c|}
\hline Age & Male & Female \\
\hline 17-20 & 3.0 & 1.45 \\
\hline 21-24 & 2.15 & 1.2 \\
\hline 25-29 & 1.55 & 1.0 \\
\hline
\end{tabular}

Sagot :

To determine David's total annual premium, we need to add up the premiums for each type of insurance he has chosen.

1. Bodily Injury Premium
- David has selected 100/300 liability insurance.
- The premium for 100/300 bodily injury liability insurance is \[tex]$450. 2. Property Damage Premium - David has chosen a property damage liability amount of 100. - The premium for 100 property damage liability is \$[/tex]375.

3. Collision Premium
- David’s collision insurance has a \[tex]$100 deductible. - The premium for collision insurance with a \$[/tex]100 deductible is \[tex]$215. 4. Comprehensive Premium - David’s comprehensive insurance has a \$[/tex]500 deductible.
- The premium for comprehensive insurance with a \[tex]$500 deductible is \$[/tex]85.

By summing these individual premiums, we find the total annual premium. Adding them up step by step:

- [tex]\( \$450 \)[/tex] (Bodily Injury Premium)
- [tex]\( + \$375 \)[/tex] (Property Damage Premium)
- [tex]\( + \$215 \)[/tex] (Collision Premium)
- [tex]\( + \$85 \)[/tex] (Comprehensive Premium)

Therefore, the total annual premium is:

[tex]\[ \$450 + \$375 + \$215 + \$85 = \$1125 \][/tex]

Thus, David’s total annual premium is \$1125.
Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.