Jared’s car slides into a stop sign during an ice storm. There is x dollars damage to his car, where x > 1,000, and the stop sign will cost y dollars to replace. Jared has $25,000 worth of PD insurance, a$1,000 deductible on his collision and comprehensive insurance, and $50,000 no-fault insurance. How much will his company pay for the stop sign?

Jared’s car slides into a stop sign during an ice storm. There is x dollars damage to his car, where x > 1,000, and the stop sign will cost y dollars to replace. Jared has $25,000 worth of PD insurance, a$1,000 deductible on his collision and comprehensive insurance, and $50,000 no-fault insurance. Which insurance covers the damage to his car?

Mollie has 100/300/50 liability insurance and $50,000 PIP insurance. She drives through a stop sign and hits a telephone pole and bounces into a minivan with 8 people inside. Some are seriously hurt and sue her. Others have minor injuries. Three passengers in Mollie’s car are also hurt. The three passengers in Mollie’s car are hurt and each requires$12,000 worth of medical attention. What insurance covers this, and how much will the company pay?

Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. He had a tire blowout while driving and crashed into a $1,400 fire hydrant. The crash caused$1,600 in damages to his car. How much will the insurance company pay for the fire hydrant?

Manuel has x dollar-deductible collision insurance. His car is involved in an accident, and has W dollars worth of damage to it, where x > w. How much must the insurance company pay him for the damages?

Manuel has x dollar-deductible collision insurance. His car is involved in an accident, and has w dollars worth of damage to it, where $x>w$. How much must the insurance company pay him for the damages?

Fraud is misrepresentation of a material (important) fact with intent to deceive another person or company. People who claim to own assets that they did not purchase and then report them lost or stolen are committing insurance fraud. Or they may claim their vehicle or property was stolen and damaged just to collect insurance. Fraud is a serious crime (felony). Insurance companies investigate claims to be certain that people who fife claims legitimately owned those items or that the property was actually stolen and/or damaged. Do you know someone who filed a false insurance claim? How can keeping good records, such as a personal property inventory, protect you from being accused of insurance fraud? What other types of records do you think would be helpful in resolving insurance claims?

Royce Bernstein's group medical insurance coverage costs $5,480 a year. His employer pays 65% of the cost. What is the amount of the deduction each month from his paycheck for medical insurance?

Prepare adjusting journal entries for the year ended December 31 for each separate situation. Entries can draw from the following partial chart of accounts: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Prepaid Rent; Equipment; Accumulated Depreciation-Equipment: Wages Payable; Unearned Revenue; Services Revenue; Wages Expense; Supplies Expense; Insurance Expense; Rent Expense; and Depreciation Expense-Equipment.

b. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that$1,100 of unexpired insurance coverage remains.

Write your own definition of the term.

Whole life insurance

Visit your state government web site and gather information to answer these questions: What types and how much insurance coverage does your state require for all drivers? How are financial responsibility Jaws enforced? For example, is vehicle insurance tied to vehicle registration? What are the fines or penalties if a driver is caught without insurance?

Twenty-three percent of automobiles are not covered by insurance (CNN, February 23, 2006). On a particular weekend, 35 automobiles are involved in traffic accidents.

What is the expected number of these automobiles that are not covered by insurance?

J.B. asks, "Does insurance cover the cost?" Provide a response.

When the values of stocks and bonds fluctuate, they have an impact on the balance sheet of insurance companies. Why is that impact more likely to be a problem for life insurance companies than for property and casualty companies?