Jessica Railes is purchasing a condo and is shopping for an HO-6 policy. Her auto insurer quoted her an annual rate of $ 450.$450. However, if she were to insure both the condo and her car with the same company, the insurer would give her a discount of 66 percent on her HO-6 policy and a discount of 88 percent on her $970970 annual auto premium. By how much will this reduce Jessica's premium? In addition to the discount, what are other advantages of purchasing both auto and homeowner's insurance with the same company? Question content area bottom Part 1 The amount by which Jessica's premium would be reduced is $104.6104.6. (Round to the nearest cent.) Part 2 In addition to the discount, what are other advantages of purchasing both auto and homeowner's insurance with the same company? "Another advantage is that if Jessica ever had a claim involving both her home and her car (e.g., a tree falling on a car at home during a wind storm), it would be handled by one company. Further, Jessica only has to build a relationship with one company and insurance agent if she purchases all of her property insurance with one firm." The statement above is ▼ . (Select from the drop-down menu.)
Jessica Railes is purchasing a condo and is shopping for an HO-6 policy. Her auto insurer quoted her an annual rate of $ 450.$450. However, if she were to insure both the condo and her car with the same company, the insurer would give her a discount of 66 percent on her HO-6 policy and a discount of 88 percent on her $970970 annual auto premium. By how much will this reduce Jessica's premium? In addition to the discount, what are other advantages of purchasing both auto and homeowner's insurance with the same company? Question content area bottom Part 1 The amount by which Jessica's premium would be reduced is $104.6104.6. (Round to the nearest cent.) Part 2 In addition to the discount, what are other advantages of purchasing both auto and homeowner's insurance with the same company? "Another advantage is that if Jessica ever had a claim involving both her home and her car (e.g., a tree falling on a car at home during a wind storm), it would be handled by one company. Further, Jessica only has to build a relationship with one company and insurance agent if she purchases all of her property insurance with one firm." The statement above is ▼ . (Select from the drop-down menu.)
Chapter8: Vehicle And Other Major Purchases
Section: Chapter Questions
Problem 1FPC
Related questions
Question
Jessica Railes is purchasing a condo and is shopping for an HO-6 policy. Her auto insurer quoted her an annual rate of
$ 450.$450.
However, if she were to insure both the condo and her car with the same company, the insurer would give her a discount of
66
percent on her HO-6 policy and a discount of
88
percent on her
$970970
annual auto premium. By how much will this reduce Jessica's premium? In addition to the discount, what are other advantages of purchasing both auto and homeowner's insurance with the same company?Question content area bottom
Part 1
The amount by which Jessica's premium would be reduced is
$104.6104.6.
(Round to the nearest cent.)Part 2
In addition to the discount, what are other advantages of purchasing both auto and homeowner's insurance with the same company?
"Another advantage is that if Jessica ever had a claim involving both her home and her car (e.g., a tree falling on a car at home during a wind storm), it would be handled by one company. Further, Jessica only has to build a relationship with one company and insurance agent if she purchases all of her property insurance with one firm."
The statement above is
.
(Select from the drop-down menu.)
▼
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Finance
ISBN:
9780357033609
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Finance
ISBN:
9780357033609
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning