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Philip causes an auto accident on a residential street. He has liability coverage only. He causes [tex]$7,000 in damage to someone else's car, $[/tex]2,000 in damage to his own car, has a [tex]$500 deductible, and has a maximum coverage limit of $[/tex]10,000.

How much will insurance pay toward fixing Philip's car? Explain.



Answer :

GinnyAnswer

Final answer:

Insurance will pay [tex]$1,500 toward fixing Philip's car.


Explanation:

Insurance will pay $[/tex]1,500 toward fixing Philip's car. This is calculated by subtracting his [tex]$500 deductible from the damage caused to his car ($[/tex]2,000).


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