Nathan traded in his 2005 Ford for a new model. One week later, he hit an oily spot in the road on his way to work and skidded into a parked car. The 2005 Ford was insured under the PAP with full coverage, including a $250 deductible for a collision loss. At the time of the accident, Nathan had not notified his insurer of the trade-in. The physical damage to the parked car was $8,000. Damage to Nathan's new car was $5,000. Will Nathan's PAP cover either or both of these losses? Explain.