Can someone detail me an explanation for this questions
by Jamesly Louis - Tom is injured in a not at-fault auto accident and has temporary injuries. What can be recovered in a tort claim if he has $16,000 in medical bills with a $1,000 PIP deductible?
The answer is 6,000.00 but for the life of me can't figure out how or maybe I am looking at too deep - thank you in advance -
Re: Can someone detail me an explanation for this questions
by Kaylee Colvard - You are looking too into the question!
Figure pip payment first: $16,000 - $1,009 deductible = $15,000
Medical pays 80% x $15,000 =$12,000
Pip max is $10,000
Therefore the insured's out if pocket is 16,000 - 10,000 = $6,000
Remember, tort allows you to recover the deductible since you were not at fault.
Hope that helps!
Re: Can someone detail me an explanation for this questions
by Jamesly Louis - Kaylee - thank you for the help - very helpful and understanding
Re: Can someone detail me an explanation for this questions
by Jan Bradburn- - Kaylee,
It is awesome when the student becomes the teacher. You really understand the course material when you can explain the concept to another student. Your answers correct and well-worded.
Jan
It is awesome when the student becomes the teacher. You really understand the course material when you can explain the concept to another student. Your answers correct and well-worded.
Jan