BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If your policy covers $100, 000 of Bodily Damage and you cause $234, 000 of Bodily Damage what happens?
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The insurance company will cover all of it
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You pay $134, 000 out of pocket
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The company will pay you $134, 000 after you pay out of pocket.
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The insurance company will cover none of it.
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Explanation:
Detailed explanation-1: -In the event of an accident wherein the insured person causes damage to the third party car, the insurer will provide coverage of up to Rs 7.5 lakh for the third party.
Detailed explanation-2: -Texas law requires you to have at least $30, 000 of coverage for injuries per person, up to a total of $60, 000 per accident, and $25, 000 of coverage for property damage. This is called 30/60/25 coverage. Think about buying more liability coverage.
Detailed explanation-3: -For example, here is how 50/100/50 limits break down: 50 Bodily Injury Coverage-$50, 000 per person for injuries. 100 Overall Maximum Coverage-$100, 000 will be paid out for injuries total per accident.
There is 1 question to complete.