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Homework answers / question archive / Your home insurance policy has a $190 deductible
Your home insurance policy has a $190 deductible. If a small fire causes $640 damage to your home, what amount of the claim would the insurance company pay?
a) $190
b) $450
c) $415
d) $640
e) not able to determine from this information
Computation of the amount of payment would insurance company pay:-
Amount of payment = Amount of damage caused - Deductible amount
= $640 - $190
= $450
Hence, the correct option is b) $450
