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Renters insurance covers $12,000 in personal property and $100,000 in liability for $100 per year, with a $500 deductible. What percentage of the maximum coverage for your personal property are you paying in premium?
A) Less than 1%
B) 1%
C) 8%
D) 10%

Respuesta :

Answer:

Less than 1

Explanation:

anthougo

The percentage of the maximum coverage that you pay in premium is A) Less than 1%.

Data and Calculations:

Personal property insurance = $12,000

Liability insurance = $100,000

Total insurance coverage = $112,000 ($12,000 + $100,000)

Deductible = $500

Liability per year = $100

Total premium = $600 ($100 + $500)

Thus, the percentage of the maximum coverage that you pay in premium is 0.5% ($600/$112,000).

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