Question

Coverage Policy A Policy B Policy C SIS7 $152 S160 Liability (100/200/50) 75 82 78 Comprehensive (actual cash value) 65 75 68 Collision (S100 deductable) 22 30 20 Medical ($5,000 per person) 15 18 12 Uninsured motorist ($15,000 per person $30,000 per accident) What is the percentage of increase from the least expensive 7.8 %

Answer 1

Total sum for Policy A = 334

Total sum for Policy B = 357

Total sum for Policy C = 338

Less expensive policy is =334

Most expensive policy is = 357

$\begin{gathered} \text{percentage increase is =}\frac{357\text{ - 334}}{334}\text{ }\times100 \\ \text{ =}\frac{23}{334}\times100\text{ =}\frac{2300}{334}\text{ = 6.88\%} \end{gathered}$