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Car Insurance Quote for Danny and Sara Bell

2015 Compact

Sports

$6,000 value

2018 Minivan

$23,000 value

Liability:

1-Bodily injury

2015 sports limits

Premiums

2018 minivan

limits

Premiums

$50,000

$57.50

$50,000

$59.10

each person

each person

$100,000

$100,000

each occurrence

each occurrence

2-Property damage

$50,000

$49.50

$50,000

$45.90

each occurrence

each occurrence

3-Medical payments

$5,000

$18.20

$5,000

$18.20

4-Comprehensive

actual cash value

$38.90

actual cash value

$42.30

Less $250

Less $250

deductible

deductible

5-Collision

$85.60

actual cash value

$90.80

Less $250

deductible

Less $250

deductible

Additional Coverages:

6-Towing and labor

$2.00

$2.00

7--Loss of use

$50 per day

$1000 max

$20.00

$1000 max

$20.00

TOTAL 1-7

a)

TOTAL 1-7

b)

Uninsured

motorist

Uninsured

declined

motorist

$76.10

bodily injury

bodily injury

Total each

vehicle:

c)

2015 sports

2018 minivan

d)

Total six-month

premium

e)

for all vehicles

Help Danny and Sara

interpret this insurance quote

for their 2015 sports car and

2018 minivan.

Determine the totals for items

a, b, c, d, and e. Show your

work or explain how you got

your answer.

1 answer

To help Danny and Sara Bell understand their car insurance quote, we'll calculate the total premiums for each vehicle based on the information provided.

Given Information

We have two vehicles:

  1. 2015 Compact Sports Car
    • Value: $6,000
  2. 2018 Minivan
    • Value: $23,000

Insurance Premiums Breakdown:

1. Bodily Injury Liability

  • Sports Car:
    • $50,000 per person: $57.50
    • $100,000 per occurrence: $100,000 (assumed same as the other limits, otherwise we just sum the premium once)

Total for Sports Car:
Liability (Bodily Injury) = $57.50

  • Minivan:
    • $50,000 per person: $59.10
    • $100,000 per occurrence: $100,000 (assumed same as the other limits, otherwise we just sum the premium once)

Total for Minivan:
Liability (Bodily Injury) = $59.10

2. Property Damage Liability

  • Sports Car: $49.50
  • Minivan: $45.90

3. Medical Payments

  • Both Vehicles: $18.20 for each vehicle

4. Comprehensive

  • Sports Car: $38.90
  • Minivan: $42.30

5. Collision

  • Sports Car: $85.60
  • Minivan: $90.80

6. Towing and Labor

  • Both Vehicles: $2.00 for each vehicle

7. Loss of Use

  • Both Vehicles: $20.00 for each vehicle

Calculate Each Total:

For the 2015 Compact Sports Car:

  • Cumulative Total (1-7) for Sports Car:
    1. Bodily Injury: $57.50
    2. Property Damage: $49.50
    3. Medical Payments: $18.20
    4. Comprehensive: $38.90
    5. Collision: $85.60
    6. Towing and Labor: $2.00
    7. Loss of Use: $20.00

Total for Sports Car (a):
\[ 57.50 + 49.50 + 18.20 + 38.90 + 85.60 + 2.00 + 20.00 = 271.70 \]

For the 2018 Minivan:

  • Cumulative Total (1-7) for Minivan:
    1. Bodily Injury: $59.10
    2. Property Damage: $45.90
    3. Medical Payments: $18.20
    4. Comprehensive: $42.30
    5. Collision: $90.80
    6. Towing and Labor: $2.00
    7. Loss of Use: $20.00

Total for Minivan (b):
\[ 59.10 + 45.90 + 18.20 + 42.30 + 90.80 + 2.00 + 20.00 = 278.30 \]

Total Premiums:

  1. Total for each vehicle (c):

    • 2015 Sports Car: $271.70
    • 2018 Minivan: $278.30

  2. Total Six-Month Premium for all Vehicles (d): \[ Total = 271.70 + 278.30 = 550.00 \]

  3. Total for Uninsured Motorist (not included in total above):

    • Uninsured motorist bodily injury declined; hence no additional premium.

Final Summary:

  • Total for Sports Car (a): $271.70
  • Total for Minivan (b): $278.30
  • Total for 2015 Sports Car and 2018 Minivan (c): $271.70 (Sports Car) + $278.30 (Minivan) = $550.00 (d)
  • Total for all vehicles for six months (e): $550.00

Danny and Sara Bell should consider these amounts in their budget and review the coverage limits to ensure they meet their needs.