Question

Marika Katz bought a new Blazer and has insurance coverage of 25/50/25 with $200 deductible for...

Marika Katz bought a new Blazer and has insurance coverage of 25/50/25 with $200 deductible for collision. Driving up to her summer home one evening, Marika hit a parked car and injured the couple inside. Marika’s car had damage of $8,800, and the car she struck had damage of $5,500. After a lengthy court suit, the couple struck were awarded personal injury judgments of $20,000 and $10,000, respectively.

a. What will the insurance company pay for this accident?

Amount paid $

b. What is Marika’s responsibility?

Amount paid $

0 0
Add a comment Improve this question Transcribed image text
Know the answer?
Add Answer to:
Marika Katz bought a new Blazer and has insurance coverage of 25/50/25 with $200 deductible for...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Marika Katz bought a new Blazer and insured it with only compulsory insurance 10/20/5. Driving up to her summer home one evening, Marika hit a parked car and injured the couple inside. Marika’s car ha...

    Marika Katz bought a new Blazer and insured it with only compulsory insurance 10/20/5. Driving up to her summer home one evening, Marika hit a parked car and injured the couple inside. Marika’s car had damage of $9,800, and the car she struck had damage of $8,100. After a lengthy court suit, the couple struck were awarded personal injury judgments of $15,700 and $6,700, respectively. a. What will the insurance company pay for this accident? Amount paid $ b. What...

  • Kurt has 25/50/25 auto insurance coverage. One evening he lost control of his vehicle, hitting a...

    Kurt has 25/50/25 auto insurance coverage. One evening he lost control of his vehicle, hitting a parked car and damaging a storefront along the street. Damage to the parked car was $12,200, and damage to the store was $19,700. (a) What amount will the insurance company pay for the damages? amount paid= (b) What amount will Kurt have to pay? amount paid=

  • Part 1 - Becky Fenton has 45/90/50 automobile insurance coverage. If two other people are awarded...

    Part 1 - Becky Fenton has 45/90/50 automobile insurance coverage. If two other people are awarded $85,000 each for injuries in an auto accident in which Becky was judged at fault, how much of this judgment would the insurance cover? Part 2 - Kurt Simmons has 65/120/20 auto insurance coverage. One evening, he lost control of his vehicle, hitting a parked car and damaging a storefront along the street. Damage to the parked car was $7,100, and damage to the...

  • Kurt Simmons has 15/30/5 auto insurance coverage. One evening he lost control of his vehicle, hitting...

    Kurt Simmons has 15/30/5 auto insurance coverage. One evening he lost control of his vehicle, hitting a parked car and damaging a storefront along the street. Damage to the parked car was $6,500, and damage to the store was $15,000 (a) What amount will the insurance company pay for the damages? ount paid (b) What amount will Kurt have to pay? ount paid

  • Jack has an automobile insurance policy with the Auto - Share Insurance Company. He has 200,000...

    Jack has an automobile insurance policy with the Auto - Share Insurance Company. He has 200,000 of third party liability coverage (bodily injury/property damage) and has a 1,500 deductible on his collision coverage. Jack is at fault for an accident that injures Lucy, who is insured by Frog Insurance. Jack is successfully sued by Lucy for Lucy’s injuries. The court orders Jack to pay Lucy 170,000. Other expenses incurred are: (i) Legal fees to Auto-Share on behalf of Jack: 45,000...

  • Answer critical analysis questions. ISSUES AND APPLICATIONS Private or Public Auto Insurance: What is Best for...

    Answer critical analysis questions. ISSUES AND APPLICATIONS Private or Public Auto Insurance: What is Best for Canada? Concepts Applied: Capitalist, Command, and Mixed Systems; Productive Efficiency, Allocative Efficiency; and Equity t the cost of he codents a How does t In response to public outrage over styrocketing car insurance premiums, the consumers' Association of a completed a comprehensive report on auto insurance rates in Canada September 2003 in presenting the report the association noted that government-owned or public auto insurance...

  • [20] Bob, a calendar-year, cash-basis taxpayer, owns an insurance agency. Bob has four people selling insurance...

    [20] Bob, a calendar-year, cash-basis taxpayer, owns an insurance agency. Bob has four people selling insurance for him. The salesmen incur ordinary and necessary meal and entertainment expenses for which Bob reimburses them monthly. During the current year, Bob reimbursed his agents $10,000 for meals and $26,000 for entertainment. How much of the reimbursement can Bob deduct for meal and entertainment expenses on his current-year federal income tax return? A. $5,000 B. $8,000 C. $30,800 D. $36,000 [21] In January...

  • Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as...

    Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as a deductible medical expense? A. Cost of long-term care for a developmentally disabled person in a relative’s home. B. Special school for a deaf child to learn lip reading. C. Cost of elevator installed for individual who had heart bypass surgery (in excess of increase in value of individual’s home). D. Cost and care of guide dogs used by a blind person in his...

  • Part B. Gross Income Inclusions & Exclusions For each Q-6 through Q-19 below, determine whether the...

    Part B. Gross Income Inclusions & Exclusions For each Q-6 through Q-19 below, determine whether the item described should be INCLUDED IN or EXCLUDED FROM the Gross Income of the taxpayer who receives the item. • Darken Box A on the Scantron sheet if the item should be INCLUDED IN gross income • Darken Box B on the Scantron sheet if the item should be EXCLUDED FROM gross income 6. $25,000 scholarship for tuition and books received by a full-time...

  • Please read the article and answer about questions. You and the Law Business and law are...

    Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT