Case 1: Jacob's house is valued at $600,000. He purchases a $400,000 homeowners insurance policy, which has an 80% coinsurance. In this policy, Coverage B is 10% of Coverage A, Coverage C is 50% of Coverage A, and Coverage D is 20% of Coverage A He does not add anv endorsement to his base policv. What is the total amount of property-related coverage? His house is damaged during a storm and has a $200,000 loss (replacement cost) How much will the insurer pay for the loss? 1. 2. 3. Jacob has to live in a hotel for one month because of the storm. He incurs some additional living expenses as shown below Living expenses after the storm Normal expenses Hotel costs 2,400 3,000 600 Mortgage 3,000 Meal 1,400 Transportation 900 Storage 250 0 150 Laundr Clothes Utilitv How much will the insurer pay for his additional living expenses due to the storm? Jacob's diamond watch and coin collection are stolen when he is away for spring break (one week). The watch is worth $35,000 and coin collection is worth $17,000. How much will the insurer pay for his loss? A detached greenhouse is burned down. It costs $50,000 to build a new one. How much will the insurer pay for the greenhouse? When Jacob travels abroad, his camera, cell phone and tablet are stolen. The replacement cost is $3,000. The aclual cash value is $800. Does his insurance cover the loss? If yes, how much will the insurer pay for his loss? 200 500 4. 5. 6. 7. In question 6, if Jacob purchased Personal Property Replacement Cost endorsement, how much would the insurer pay for his loss? Case 1: Jacob's house is valued at $600,000. He purchases a $400,000 homeowners insurance policy, which has an 80% coinsurance. In this policy, Coverage B is 10% of Coverage A, Coverage C is 50% of Coverage A, and Coverage D is 20% of Coverage A He does not add anv endorsement to his base policv. What is the total amount of property-related coverage? His house is damaged during a storm and has a $200,000 loss (replacement cost) How much will the insurer pay for the loss? 1. 2. 3. Jacob has to live in a hotel for one month because of the storm. He incurs some additional living expenses as shown below Living expenses after the storm Normal expenses Hotel costs 2,400 3,000 600 Mortgage 3,000 Meal 1,400 Transportation 900 Storage 250 0 150 Laundr Clothes Utilitv How much will the insurer pay for his additional living expenses due to the storm? Jacob's diamond watch and coin collection are stolen when he is away for spring break (one week). The watch is worth $35,000 and coin collection is worth $17,000. How much will the insurer pay for his loss? A detached greenhouse is burned down. It costs $50,000 to build a new one. How much will the insurer pay for the greenhouse? When Jacob travels abroad, his camera, cell phone and tablet are stolen. The replacement cost is $3,000. The aclual cash value is $800. Does his insurance cover the loss? If yes, how much will the insurer pay for his loss? 200 500 4. 5. 6. 7. In question 6, if Jacob purchased Personal Property Replacement Cost endorsement, how much would the insurer pay for his loss