You have purchased a $25,000 Employee Theft policy with $500 deductible. During the coverage period you...
You have purchased a $25,000 Employee Theft policy with $500 deductible. During the coverage period you find out that one of your employees has stolen a $30,000 item from your company. How much would the insurance company pay you?
Homework Answers
A deductible amount is the amount that the customer has to pay before insurer pays the claim hence in this case the maximum claim amount can be 25,000 not 30,000 as the contract is of that condition.
So the amount insurance company will be paying = 25000 - 500 = 24,500
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