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5 June, 13:52

The accident caused $2,700 worth of damage to your car. You have liability coverage of 60/125/45 which costs you $286 per year. The book value of your car is $2,000. The annual cost for collision coverage is $226 with a $1500 deductible. 10. What is the cost per $1,000 per liability coverage?

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  1. 5 June, 16:12
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    The cost is $1.68 per $1000 per liability coverage

    Explanation:

    In order to calculate the Cost per $1000 per liability coverage, according to the data we have, we would have to use the following formula:

    Cost per $1000 per liability coverage = Annual liability coverage cost / (Maximum body injury coverage + Maximum property coverage coverage)

    = [$286 / ($125 + $45) ]

    = ($286 / $170)

    =$1.68

    Hence, the cost is $1.68 per $1000 per liability coverage.
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Home » Business » The accident caused $2,700 worth of damage to your car. You have liability coverage of 60/125/45 which costs you $286 per year. The book value of your car is $2,000. The annual cost for collision coverage is $226 with a $1500 deductible. 10.
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