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maddi12

  • 4 years ago

Assume that you have a car worth $7,150 and you wish to insure it for its full replacement value. If there is a 2% chance that the car will be stolen, what would a fair premium price be?

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  1. slaaibak
    • 4 years ago
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    I'd think .02 * 7150 ?

  2. slaaibak
    • 4 years ago
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    EPV Premiums = EPV Benefits Premium = Chance of being stolen * Replacement value

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