miguel has a car insurance policy with monthly premiums of $150 and a $1000 deductible. he gets into an…

miguel has a car insurance policy with monthly premiums of $150 and a $1000 deductible. he gets into an accident and the repair estimate is $800. how much will miguel have to pay for the repairs? $650 $800 $200 $750

miguel has a car insurance policy with monthly premiums of $150 and a $1000 deductible. he gets into an accident and the repair estimate is $800. how much will miguel have to pay for the repairs? $650 $800 $200 $750

Answer

Explanation:

Step1: Understand deductible concept

The deductible is the amount the insured pays first before insurance kicks in.

Step2: Compare repair cost and deductible

The repair estimate is $800 and the deductible is $1000. Since $800 < $1000, Miguel has to pay the entire repair - cost.

Answer:

$800