24/25 you got in a car accident and repairs will cost $3,000. after filing your insurance claim, you only…

24/25 you got in a car accident and repairs will cost $3,000. after filing your insurance claim, you only paid $500. why? a thats all you budgeted for car repairs. b your deductible is $500. c your exemption is up to 18%. d your withholding is $500.

24/25 you got in a car accident and repairs will cost $3,000. after filing your insurance claim, you only paid $500. why? a thats all you budgeted for car repairs. b your deductible is $500. c your exemption is up to 18%. d your withholding is $500.

Answer

Brief Explanations:

In insurance, a deductible is the amount an insured person pays out - of - pocket before the insurance company starts covering the costs. Here, the repair cost is $3000 and the person paid $500, which is likely the deductible amount.

Answer:

B. Your deductible is $500.