Help With this questions please
by Jamesly Louis - Dan has a Personal Auto Policy with Liability of 10/20/10 and basic PIP with a $1,000 deductible. He is running one day when a car strikes him. A week later he dies. Medical bills are $7,500 and lost wages are $1,000. How much, if any, will PIP pay in this claim?
The answer is 10,800.00 - but can't figure it out
Thank you in advance
Re: Help With this questions please
by Jan Bradburn- - Jamesly,
These are the steps to get the correct answer:
Subtract the deductible from the medical expense: $7500 - $100 = $6500
Apply the deductibles: 80% of $6500 = $5200 and 60% of $1000 = $600
Dan is paid $5800 for medical bills and lost wages. Upon his death he receives the $5000 death benefit.
$5800 + $5000 = $10,800.
Jan
These are the steps to get the correct answer:
Subtract the deductible from the medical expense: $7500 - $100 = $6500
Apply the deductibles: 80% of $6500 = $5200 and 60% of $1000 = $600
Dan is paid $5800 for medical bills and lost wages. Upon his death he receives the $5000 death benefit.
$5800 + $5000 = $10,800.
Jan
Re: Help With this questions please
by Rollin Ryan - Wow... that is great you explained this question.
First off.. never would have thought being hit by a car would have extended my PIP.
Thanks,
Rollin