if no insurance claim is submitted for event 2, what is the owners out of pocket cost for the repair…

if no insurance claim is submitted for event 2, what is the owners out of pocket cost for the repair? deductible: $2500.00 event 1 event 2 description fire damage burst water pipes repair cost $40,500.00 $3,000.00

if no insurance claim is submitted for event 2, what is the owners out of pocket cost for the repair? deductible: $2500.00 event 1 event 2 description fire damage burst water pipes repair cost $40,500.00 $3,000.00

Answer

Answer:

$3000.00

Explanation:

Step1: Identify the situation

No insurance claim for Event 2.

Step2: Determine cost

Owner pays full repair cost of $3000.00 as no claim means no insurance - company involvement and no deductible - application for this event.