Dane Cook has a $50,000 property loss. His insurance policy's coverage limit is $35,000, and has a $500 deductible applied to the loss. How much will Dane collect?

Name: Dane Cook has a $50,000 property loss. His insurance policy's coverage limit is $35,000, and has a $500 deductible applied to the loss. How much will Dane collect?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The coverage limit is $35,000, and the deductible is $500. So, Dane will collect $35,000 - $500 = $34,500.

Dane Cook Has a $50,000 Property Loss