How much will the policy pay to repair the swifts car

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Reference no: EM132255831

The first page (Declarations) indicates that Chris and Karen own an older Toyota and a new Ford (remember, this example is from 2007). They bought Coverage D on the Ford, but not the Toyota. Why would they do that? 2. Karen's brother is visiting and they let him borrow the Ford. As he backs out of the driveway, he hits the neighbor's parked car. The Ford sustains $2,500 in damages and the neighbor's car sustains $3,000 in damages. How much will the policy pay to repair the Swifts car? How much will it pay to repair the neighbor's car? Why? 3. Chris is involved in a serious accident and the Ford is "totaled." The new cost of the vehicle was $25,000. At the time of the accident, it was a year old and it had 20,000 miles on the odometer. With that age and mileage, the "blue book" value was $20,000. How much will the policy pay for the loss? Why? 4. In Chris's accident, a pedestrian was injured and Chris was deemed to be at fault. After a long court battle, during which the insurance company spent $75,000 on the legal defense, the judge awarded the injured pedestrian $110,000. How much of the expense and the damage award will Chris have to pay? Why?

Reference no: EM132255831

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