Julia primarily uses her minivan to transport her grandchildren. Vera, Chuck, an

Question

Julia primarily uses her minivan to transport her grandchildren. Vera, Chuck, and Dave, to and from school. She has 25/100 bodily injury and $50.000 property damage coverage. Julia has a $50 deductible for both comprehensive and collision insurance coverage. Her driver-rating factor is 1.75. Her van is classified as B, 12. What is Julia's annual premium? Rocky bought a used car four years ago for $4, 590.00 cash (Rocky did not take out a car loan). Currently the car is valued at $2, 227.00. This year Rocky drove his 9, 999 miles. He paid $977.12 for his annual insurance and $101.00 for the car's registration. Annual variable costs this year included $1, 449.13 for gas, $38, 19 for oil and filters, and $440.64 for a brake repair. Calculate the car's depreciation and this year's cost per mile.

Explanation / Answer

Ans.:)

Property damage coverage premium is as follows = for 50,000 (25/100 bodily injured) = 458 $ per annuam

Based on rating factor premium = 1.75 * 458 = 801.5 $.

Collusion & Comprehensive preium (50 $ Deductable at B 's Age group at 12 rating) = 327+138 $ = 465 $

Based on rating factor premium = 1.75 * 465 = 813.75 $.

II) Bit answer:

Note : The information relating to caost & useful life is not given perfectly so realisable value is considered as depreciation.

Particulars Cost No of miles Cost Per Mile Car Depreciation 2227 9999 0.22 Annual Insurance 977.12 Annual Variable cost 1449.13 Total Variable cost -- 2426.25 9999 0.24 Cost per mile is as follows---------------------- 0.47

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