if no insurance claim is submitted for event 1, what is the owners out of pocket cost for the…

if no insurance claim is submitted for event 1, what is the owners out of pocket cost for the repair?\ndeductible: $1500.00\n| | event 1 | event 2 |\n| description | hail damage | theft |\n| repair cost | $12,000.00 | $6,000.00 |\n$?

if no insurance claim is submitted for event 1, what is the owners out of pocket cost for the repair?\ndeductible: $1500.00\n| | event 1 | event 2 |\n| description | hail damage | theft |\n| repair cost | $12,000.00 | $6,000.00 |\n$?

Answer

Explanation:

Step1: Understand the problem

We need to find the owner's out - of - pocket cost for Event 1 when no insurance claim is submitted. When no insurance claim is submitted, the owner has to pay the full repair cost (since there is no insurance to cover any part of it).

Step2: Identify the repair cost for Event 1

From the table, the repair cost for Event 1 (hail damage) is $12,000.00. Since no insurance claim is submitted, the owner's out - of - pocket cost is equal to the repair cost.

Answer:

12000.00