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Johann maintains a $75,000 insurance policy on his boat. He pays $50 per month in premiums and his deductible is $2,500. If he is involved in an accident that does $2,000 worth of damage to the boat, how much will he have to pay?

Respuesta :

If he is involved in an accident that does $2,000 worth of damage to the boat, he will have to pay the full $2,000, since his deductible is $2,500, meaning that his insurance company only starts to pay for damage after it exceeds $2,500. 

The correct answer is:


$2,000.


Explanation:


A deductible is an amount that an insurance company requires you to pay before they begin paying on any charges.


Since Johann's deductible is $2,500, this means he is required to pay $2,500 before his insurance will pay anything.


Since the damages are $2,000, which is less than $2,500, he will have to pay the full $2,000.

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