An insured has a not at-fault accident with the following losses: Medical of $8000; Work Loss of $2000 and Replacement Services of $500. PIP will pay __________?
$8100????
Can anyone explain, I dont get it.
Thanks
Got it. Thanks!
Edgar,
I will be taking my state soon. Why 8100? The insured PIP would be the 8000 out of 10,000 available.
PIP Pays 4 parts only: Medical 80%, Work Loss 60%, Replacement 100%, & Death Benefits $5K.
An insured has a not at-fault accident with the following losses: Medical of $8000; Work Loss of $2000 and Replacement Services of $500. PIP will pay __________?
Medical 8K = PIP Payout (8000 X .80 = 6,400.00)
Work Loss 2K = PIP Payout (2000 X .60 = 1,200.00)
Replacement Services 500.00 = PIP Payout (500 X 1 = 500.00)
Final PIP payout (6,400.00 + 1,200.00 + 500.00 = 8,100.00)
Hope that helps!