Mock Insurance Agent Session/Determine the Type of Auto Coverage Bob Needs Evalu
Mock Insurance Agent Session/Determine the Type of Auto Coverage Bob Needs Evaluate the following scenario to determine the type of auto coverage that Bob needs to have full protection, and determine how much the accident would cost the policyholder. Presume that the driver/Bob has full coverage, collision, and bodily injury coverage on the policy. For the property damage section, calculate the cost to the driver with a \$500 and a \$1,000 deductible. Also, calculate Collision also for a \$500 and \$1,000 deductible while there is no deductible for the bodily injury coverage. Info: Scenario Bob accidentally turned into the wrong lane and struck another car. The second driver's car had \$20,000 worth of damage and Bob's car had \$10,000 worth of damage. Questions to answer: What type of coverage is needed? Does Bob have this coverage? How much is the deductible? What will Bob’s insurance company pay?  Describe the difference between coverage and no coverage for the full amount. How much was the difference?   The process to determine Bob's type of auto coverage to have full protection and cost of insurance:  Calculate the amount Bob’s insurance company will pay? (If Bob has coverage, subtract deductible, consider coverage limit) Calculate the amount Bob will pay with coverage: Deductible plus amount over the coverage limit. Calculate for no coverage for the full amount.