Calculate the amount insurance company paid out in benefits

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Reference no: EM13472720

Driver Alan has a poor driving record and pays triple the regular premium would be 2,100 and covers Alan for all three classfications of insurance with a $500 deductible for auto collision. During the year, Alan sideswiped a row of parked cars. Repairs to the parked cars cost $1,870,$4,950,$2,340, and $378. Repairs to Alan's car cost $490. Compute the amount the insurance company paid out in benefits over the amount it received in premium for this policy.

Reference no: EM13472720

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