If you have an accident resulting in $2,000 damage to your car and have $500 deductible collision coverage, which of the following statements is true?
A) Your insurance company will pay $2,000.
B) You will pay $1,500.
C) You will pay the first $500 and your insurance company will pay $1,500.
D) You and your insurance company will split the $2,000 damage, each paying $1,000.
Answer: C
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