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17 December, 01:07

Andrea purchased an auto insurance policy with bodily injury liability limits of 250/500 ($250,000/$500,000). She also purchased a personal umbrella policy with a $1 million limit and a $500 self-insured retention. Andrea was talking on her cell phone while driving, and her car struck and killed a pedestrian in a crosswalk. The court ordered her to pay $750,000 to the spouse of the person she killed. How will this claim be settled?

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  1. 17 December, 03:04
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    Auto insurance policy with Bodily injury liability limits = 250/500

    personal umbrella policy with a limit = $1 million

    Self-insured retention = $500

    Here, total claim = $750,000

    Amount paid by the auto insurance policy = $250,000

    Remaining = $750,000 - $250,000

    = $500,000

    Remaining claim amount of $500,000 shall be paid by the umbrella policy.
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