Question: Leo bought a used car for $4,500. While in class at George Brown, his car was damaged by an unidentified automobile. The damage to the

Leo bought a used car for $4,500. While in class at George Brown, his car was damaged by an unidentified automobile. The damage to the vehicle was estimated at $1,000. If the cash value of Leo's car at the time of the loss is $3,000, how much money would Leo receive if he files a claim for damages? Assume he has an Ontario Automobile Insurance policy with a $500 deductible and all perils coverage.

		$3,000
		$2,500
		$1,000
		$500
		None of the above. He's not covered.

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