if an insurance claim is submitted for event 1, what is the owners out of pocket cost for the repair…

if an insurance claim is submitted for event 1, what is the owners out of pocket cost for the repair? deductible: $1700.00 event 1 event 2 description termite damage fence repair repair cost $8,000.00 $2,000.00

if an insurance claim is submitted for event 1, what is the owners out of pocket cost for the repair? deductible: $1700.00 event 1 event 2 description termite damage fence repair repair cost $8,000.00 $2,000.00

Answer

Answer:

$1700.00

Explanation:

Step1: Understand insurance deductible

The owner pays the deductible first.

Step2: Determine out - of - pocket cost

Since the deductible is $1700 and it is less than the repair cost of $8000 for Event 1, the owner's out - of - pocket cost is the deductible amount, which is $1700.