a homeowners insurance policy has a $1,000 deductible and a monthly premium of $150. the homeowner files a…

a homeowners insurance policy has a $1,000 deductible and a monthly premium of $150. the homeowner files a claim for $4,000 and the insurance company agrees to cover the claim. how much will the homeowner have to pay? $1,000 $3,000 $850 $1,150

a homeowners insurance policy has a $1,000 deductible and a monthly premium of $150. the homeowner files a claim for $4,000 and the insurance company agrees to cover the claim. how much will the homeowner have to pay? $1,000 $3,000 $850 $1,150

Answer

Explanation:

Step1: Identify deductible amount

The deductible is $1,000. This is the amount the homeowner has to pay first before the insurance company covers the claim.

Step2: Determine payment amount

The homeowner's payment is equal to the deductible amount. So the homeowner pays $1,000.

Answer:

$1,000