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April 1, 2015

Homework Help: math

Posted by anonymous on Monday, January 9, 2012 at 10:37am.

When you buy auto insurance, you have a choice of buying a full coverage policy or a basic “state minimum” policy. The difference is what gets paid for if you cause an accident. A full coverage policy will pay to fix or replace your car after you pay a deductible amount, like $500. A basic “liability” policy will only pay for damage to the other vehicle, if you cause the accident. Fixing your car becomes your problem. As you would expect, the full coverage policy costs more because it does more for you.

Answer the following questions about buying auto insurance.
a. What would be the situation in which you would probably buy just the basic auto insurance? Hint: It has something to do with the car you are driving and paying less for the insurance.


b.What would be a reason that you would be willing to pay more to have the full coverage auto insurance?

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