Understanding Home Insurance Deductibles

The video tutorial explains how Armando's home insurance deductible affects his claim payments. It details the calculation of both Armando's and the insurance company's payments for a $22,000 claim, emphasizing the subtraction process to determine the insurance company's share. The tutorial provides a clear, step-by-step guide to understanding and calculating insurance payments, focusing on the deductible's role and the arithmetic involved.

What is the deductible amount in Armando's home insurance policy?

• $3,500

• $3,000

• $4,000

• $2,500

What is the purpose of a deductible in an insurance policy?

• To increase the claim amount

• To reduce the insurance company's payment

• To eliminate the need for insurance

• To determine the policyholder's initial payment responsibility

If Armando files a claim, how much will he have to pay out of pocket?

• Nothing

• The full claim amount

• The deductible amount

• Half of the claim amount

How is the insurance company's payment calculated?

• By dividing the claim amount by the deductible

• By adding the deductible to the claim amount

• By subtracting the deductible from the claim amount

• By multiplying the deductible by the claim amount

What is the first step in the subtraction process to find the insurance company's payment?

• Subtracting in the hundreds place

• Subtracting in the ones place

• Subtracting in the thousands place

• Subtracting in the tens place

What is the result of subtracting 3,500 from 22,000?

• 19,000

• 18,000

• 18,500

• 19,500

What happens when you cannot subtract a smaller digit from a larger one in a place value?

• You add 10 to the smaller digit

• You perform an exchange with the next higher place value

• You skip the subtraction for that place value

• You subtract the larger digit from the smaller one

Why is it necessary to perform exchanges during the subtraction process?

• To avoid subtraction altogether

• To make the numbers smaller

• To ensure accurate subtraction when a smaller digit is subtracted from a larger one

• To make the numbers larger

What is the final amount the insurance company will pay for Armando's claim?

• $19,000

• $19,500

• $18,000

• $18,500

What is the significance of the final calculation in the video?

• It shows how much Armando will save

• It determines the total claim amount

• It calculates the deductible amount

• It confirms the insurance company's payment after the deductible