Assignment Chapter 10 Protecting Your Property >. Types or nomeowners insurance policies Insuring a Standard Home Susan is the owner of a 15-year-old home, and is looking to buy a homeowner's insurance policy. She feels it would be overly cautious to purchase protection from all perils, but in addition to protection from fire, vandalism, windstorms, and so on, she also wants insurance for damage caused by malfunctioning of internal structures like air conditioning or plumbing. Based on the peril coverage it offers, she purchases an insurance policy HO-2 Her home has a replacement value of $250,000, therefore she insures her home for the minimum legal requirement of H0-8Assuming she does not purchase any additional coverage beyond the legal minimums, complete the following table indicating the maxin ar value of reimbursement she can receive for each of the following: -6 HO. HO-4 S S HO.1 Damage to personal property Detached buildings Loss of Use (Additional living expenses) Property damage: S Assignment: Chapter 10 Protecting Your Property S HO-4 Damage to personal property: Detached buildings Loss of Use (Additional living expenses); Property damage S HO-1 Insuring While Away at College Susan's son, Raphael, is a college student living in a campus dormitory. He drives a car that she parks on the street and wants to make sure the full value is insured. Which of the following statements regarding Raphael's insurance needs are true? Check all that apply. He should tell the insurance agency that he parks in a garage to save money on premiums His property is covered up to 10% of the coverage on the home Raphael should purchase an HO 4 broad form insurance policy because he is not covered under his parents policy Insuring a Condominium Susan's parents own a condominium that they fully insured for the replacement value of $150,000. Last year a portion of their roof collapsed due to the weight of snow after a severe storm, rendering the condo uninhabitable for the month that it took to complete repairs. Based on the coverage details of their condominium form insurance policy, the additional living expenses they incur as a result of the damage (such as the cost of staying in a hotel during the repairs) Insuring While Away at College Susan's son, Raphael, is a college student living in a campus dormitory. He drives a car that she parks on the street and wants to make sure the full value is insured. Which of the following statements regarding Raphael's insurance needs are true? Check all that apply, He should tell the insura pcy that he parks in a garage to save money on premiums HO-6 His property is covered pe of the coverage on the home HO-1 Raphael should purchase HO-8 4 broad form insurance policy because he is not covered under his parents' policy. HO 2 Insuring a Condominium HO-4 Susan's parents own a condomini hey fully insured for the replacement value of $150,000. Last year a portion of their roof collapsed due to HO-3 the weight of snow after a severe Endering the condo uninhabitable for the month that it took to complete repairs. Based on the coverage details of their condominium form insurance policy, the additional living expenses they incur as a result of the damage (such as the cost of a staying in a hotel during the repairs) Grade It Now Save & Continue Continue without saving will be reimbursed up to 20% of the personal property insurance Insuring a Condominium will not be reimbursed Susan's parents own a condominium were not eligible for year a portion of their roof collapsed due to the weight of snow after a severe sto complete repairs. Based on the coverage will be reimbursed up to 40% of the personal property insurance details of their condominium form a result of the damage (such as the cost of staying in a hotel during the repairs) Assignment Chapter 10 Protecting Your Property >. Types or nomeowners insurance policies Insuring a Standard Home Susan is the owner of a 15-year-old home, and is looking to buy a homeowner's insurance policy. She feels it would be overly cautious to purchase protection from all perils, but in addition to protection from fire, vandalism, windstorms, and so on, she also wants insurance for damage caused by malfunctioning of internal structures like air conditioning or plumbing. Based on the peril coverage it offers, she purchases an insurance policy HO-2 Her home has a replacement value of $250,000, therefore she insures her home for the minimum legal requirement of H0-8Assuming she does not purchase any additional coverage beyond the legal minimums, complete the following table indicating the maxin ar value of reimbursement she can receive for each of the following: -6 HO. HO-4 S S HO.1 Damage to personal property Detached buildings Loss of Use (Additional living expenses) Property damage: S Assignment: Chapter 10 Protecting Your Property S HO-4 Damage to personal property: Detached buildings Loss of Use (Additional living expenses); Property damage S HO-1 Insuring While Away at College Susan's son, Raphael, is a college student living in a campus dormitory. He drives a car that she parks on the street and wants to make sure the full value is insured. Which of the following statements regarding Raphael's insurance needs are true? Check all that apply. He should tell the insurance agency that he parks in a garage to save money on premiums His property is covered up to 10% of the coverage on the home Raphael should purchase an HO 4 broad form insurance policy because he is not covered under his parents policy Insuring a Condominium Susan's parents own a condominium that they fully insured for the replacement value of $150,000. Last year a portion of their roof collapsed due to the weight of snow after a severe storm, rendering the condo uninhabitable for the month that it took to complete repairs. Based on the coverage details of their condominium form insurance policy, the additional living expenses they incur as a result of the damage (such as the cost of staying in a hotel during the repairs) Insuring While Away at College Susan's son, Raphael, is a college student living in a campus dormitory. He drives a car that she parks on the street and wants to make sure the full value is insured. Which of the following statements regarding Raphael's insurance needs are true? Check all that apply, He should tell the insura pcy that he parks in a garage to save money on premiums HO-6 His property is covered pe of the coverage on the home HO-1 Raphael should purchase HO-8 4 broad form insurance policy because he is not covered under his parents' policy. HO 2 Insuring a Condominium HO-4 Susan's parents own a condomini hey fully insured for the replacement value of $150,000. Last year a portion of their roof collapsed due to HO-3 the weight of snow after a severe Endering the condo uninhabitable for the month that it took to complete repairs. Based on the coverage details of their condominium form insurance policy, the additional living expenses they incur as a result of the damage (such as the cost of a staying in a hotel during the repairs) Grade It Now Save & Continue Continue without saving will be reimbursed up to 20% of the personal property insurance Insuring a Condominium will not be reimbursed Susan's parents own a condominium were not eligible for year a portion of their roof collapsed due to the weight of snow after a severe sto complete repairs. Based on the coverage will be reimbursed up to 40% of the personal property insurance details of their condominium form a result of the damage (such as the cost of staying in a hotel during the repairs)