Most home insurance policies cover jewelry for $2060 and silverware for $2620 unless items are covered...

Most home insurance policies cover jewelry for $2060 and silverware for $2620 unless items are covered with additional insurance.

If $4640 worth of jewelry and $4440 worth of silverware were stolen from a family, what amount of the claim would not be covered by insurance?

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Solutions

Expert Solution

The amount of claim that would not be covered by insurance is calculated as:
(Value of jewelry- Value of jewelry covered under insurance policies)+(Value of silverware-Value of silverware covered under insurance policies)
Given that,
Value of jewelry=$4640
Value of jewelry covered under insurance policies=$2060

Value of silverware=$4440
Value of silverware covered under insurance policies=$2620

So, the amount of claim that would not be covered by insurance=($4640-$2060)+($4440-$2620)
=$2580+$1820=$4400

jeff jeffy answered 1 year ago

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