Paying for Insurance Protection Hans has recently purchased a fully restored 1957 Chevy. The car cost $35,000, but for Hans, the price was worth it. The best price he can find for insurance is $2,500 per year. He is thinking about cutting corners on his insurance coverage to save money. However, he knows he would be taking a risk by doing so.
Calculate Help Hans solve his problem by comparing the cost of his insurance with the cost of his vehicle. Is it worth the insurance expense to protect his prized vehicle, or is it too much to spend to insure what is, after all, just a car?