Question

You have a car insurance policy with a $400 dollar deductible provision (per claim) for collisions. The premium (the amount you pay per year just to have the policy) for your insurance policy is $350. During a two-year period, you file two claims for $300 and $1050. How much money* will you pay if you have insurance for these two years?

Answer 1

The answer to how much money will you spend if you have insurance over these two years is 10,000.