Manley Insurance Company does business in a state having no-fault insurance. An insured carries all classifications of insurance, with a $500 deductible for collision. The insured paid an annual premium of $2,770. The insured struck a telephone pole causing medical expenses of $2,340 for his passenger, $620 damage to his car, and $1,840 damage to property. How much more did Manley Insurance Company pay out on behalf of the insured than it received as his annual premium?

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The Answer of Manley Insurance Company does business in a state having no-fault insurance. An insured carries all classifications of insurance, with a $500 deductible for collision. The insured paid an annual premium of $2,770. The insured struck a telephone pole causing medical expenses of $2,340 for his passenger, $620 damage to his car, and $1,840 damage to property. How much more did Manley Insurance Company pay out on behalf of the insured than it received as his annual premium?

Manley Insurance Company Does Business in a State Having No-Fault