Ricardo paid an annual premium of $1,200 in total liability coverage for his car, including up to $200,000 in bodily injury coverage and $100,000 in property damage coverage. Ten years into his policy, Ricardo caused an accident that resulted in the other driver claiming $40,000 in medical costs and $20,000 in car damage. Did the cost of the annual premiums outweigh the benefit of transferring the risk to the insurance company?
Yes, the cost of the annual premium for 10 years was the same as the accident claims.
Yes, the cost of the annual premium for 10 years was more than the accident claims.
No, the cost of the annual premium for 10 years was less than the accident claims.
No, the cost of the annual premium for 10 years was more than the accident claims.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Ricardo paid an annual premium of $1,200 in total liability coverage for his car, including up to $200,000 in bodily injury coverage and ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Saekano: how to raise a boring girlfriend
Answers (1)
The manager of the Beach Division of Treat Time is evaluating the acquisition of a new mobile ice cream server.
Answers (1)
A supervisor finds the mean number of miles that the employees in a department live from work. He finds and. Which statement must be true?
Answers (2)
You should always read the fine print before signing a contract. O A True OB. False
Answers (2)
Cycle Wholesaling sold merchandise on account, with terms n/60, to Sarah's Cycles on February 1 for $1,000 (cost of goods sold of $600).
Answers (1)
New Questions in Business
You are hired by the Council of Economic Advisors (CEA) as an economic consultant. The chairperson of the CEA tells you that she believes the current unemployment rate is too high. The unemployment rate can be reduced if aggregate output increases.
Answers (1)
An analytical procedure example is the comparison of: Multiple Choice a. Financial ratios of the current year to previous years. b. Recorded amounts of major disbursements with appropriate invoices. c.
Answers (1)
Mary sue owns 1,000 shares of qrs moving company. qrs pays a yearly dividend of $1.00 per share. what is the total annual dividend that mary sue will receive?
Answers (1)
To StaySafe around electricity, Ted needs to: A. Follow his gut instinct B. Follow procedures established by his co-workers C. Make sure electrical hazards are resolved immediately D. Practice electrical safety only when his employer is watching
Answers (1)
Tangible assets as well as intangible assets of a business need to be assessed for proper venture evaluation. a. True b. False
Answers (1)