What does your insurance company pay

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Reference no: EM132017451

Suppose you have just 30/60/40 liability insurance. You hit another motorist (and are at fault because you were texting) and cause $60,000 worth of damage to his 1986 Mustang. Four people were in the car. Their medical bills are as follows: $25,000, $2,000, $5,000, and $70,000. Your car also sustains $1,500 worth of damage and your medical bills come out to $25. What does your insurance company pay? What are you liable to pay? Show all your work.

Reference no: EM132017451

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