Question

theas house was damaged during a natural disaster. the total repair cost is estimated to be $15,000. if theas home insurance policy has a deductible of $500 and a coverage limit of $200,000, how much will the insurance company pay for the repairs?

Explanation:

Step1: Understand the insurance concept

The insurance company pays the total repair cost minus the deductible (if the total cost is within the coverage limit).

Step2: Calculate the insurance payment

The total repair cost is $15000$ and the deductible is $500$. So the insurance payment is $15000 - 500$.
$$15000-500=14500$$

Answer:

$14500$