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Under an insurance policy with a coverage of $50,000/$120,000, with damages totaling $60,000 in a lawsuit...

Under an insurance policy with a coverage of $50,000/$120,000, with damages totaling $60,000 in a lawsuit ,the insured is responsible for

a. $60,000

b. $10,000

c. $50,000

d. $40,000

Under an insurance policy with a coverage of $50,000/ $120,000, with damages totaling $60,000, in a lawsuit for plaintiff 1 and $10,000 for plaintiff 2 , the aggregate damages or claims in the lawsuit is.

a. $60,000

b. $10,000

c. $120,000

d. $70,000

Under an insurance policy with a coverage of $50,000/ $120,000, with damages totaling $60,000 in a lawsuit for a plaintiff 1 and $10,000 for plaintiff 2, the insured is responsible for

a. $60,000

b. $10,000

c. $50,000

d. $40,000

Solutions

Expert Solution

Quedstion 1

b. $10,000

Total damages amount to $ 60,000 but is insured for only $ 50,000 so difference $ 60,000 - $ 50,000 = $10,000 will be the responsibility of the insured

Question 2

a. $ 60,000

Question 3

b. $ 10,000

(60,000 - 50,000)

jeff jeffy answered 2 years ago
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