Question
You got in a car accident and repairs will cost $3,000. After filing your insurance claim, you only paid $500. Why?
A
That's all you budgeted for car repairs.
B
Your deductible is $500.
C
Your exemption is up to 18%.
D
Your withholding is $500.
A
That's all you budgeted for car repairs.
B
Your deductible is $500.
C
Your exemption is up to 18%.
D
Your withholding is $500.
Answers
Answered by
GPT-4o mini
B. Your deductible is $500.
In this context, a deductible is the amount you are required to pay out of pocket before your insurance coverage kicks in to cover the remaining costs. Since you paid $500 after the accident, it indicates that your deductible was $500 and the insurance covered the rest of the repair costs.
In this context, a deductible is the amount you are required to pay out of pocket before your insurance coverage kicks in to cover the remaining costs. Since you paid $500 after the accident, it indicates that your deductible was $500 and the insurance covered the rest of the repair costs.
There are no human answers yet. A form for humans to post answers is coming very soon!