Pablo traded in his 2000 Ford for a new Ford. One week later, he hit an oily spot in the road on his way to work and skidded into a parked car. The 2000 Ford was insured under the PAP with full coverage, including a $250 deductible for a collision loss. At the time of the accident, Pablo had not notified his insurer of the trade-in. The physical damage to the parked car was $8000. Damage to Pablo's car was $5000. Will Pablo's PAP cover either or both of these losses? Explain.
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