Answer the Question. -Many Insurance Companies Carry a Deductible Provision That States How

Answer the question.
-Many insurance companies carry a deductible provision that states how much of a claim you must pay out of pocket before the insurance company pays the remaining expenses. Suppose you have a
Car insurance policy with a $500 deductible provision (per claim) for collisions. During a two-year
Period, you file claims for $400 and $950. The annual premium for the policy is $650. Determine
How much you would pay with and without the insurance policy.

A) With policy $2300, without policy $1450
B) With policy $2200, without policy $1350
C) With policy $2150, without policy $1350
D) With policy $1550, without policy $1350

Correct Answer:

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