Question

In: Finance

Most states currently have a. compulsory auto insurance laws, but not financial responsibility laws. b. financial...

Most states currently have

a.

compulsory auto insurance laws, but not financial responsibility laws.
b.

financial responsibility laws, but not compulsory auto insurance laws.
c.

no-fault laws.
d.

compulsory auto insurance laws and financial responsibility laws.

Which of the following is a factor in determining the premium for an individual's automobile insurance?

a.

the use of the automobile.
b.

the area in which the automobile is garaged and operated.
c.

past accidents in which the driver was not at fault.
d.

all of the above.

Solutions

Expert Solution

Part 1:
Answer: Option d is correct.
Currently, most of the states have compulsory auto insurance laws and financial responsibility laws.

Part 2:
Answer: Option d is correct.
Use of the automobile, the area in which the automobile is garaged and operated, past accidents in which the driver was not at fault are the factors used in determining the premium for an individual's automobile insurance.

jeff jeffy answered 2 years ago
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