Current replacement value of home?

Estimated value of appliances, furniture, etc.?

Type of coverage for personal porperty?

Additional coverage for items with limits on standard personal coverage such as jewelry, etc?

amount of additional personal liability coverage?

if appropraite investiagte flood or earthquake coverage excluded?

Total property insurance needed?

Newlyweds Jamie Lee and Ross have had several milestones in the past year, They are newly married, recently purchased their first home, and now have twins on the way! Jamie Lee and Ross have to seriously consider their insurance needs. With a family, a home, and now babies on the way, they are working on developing a risk management plan to help them should an unexpected event arise. Jamie Lee and Ross created a Household Inventory (see Addendum Q), excluding the $2,000 diamond wedding band set. They have elected not to get any further liability or other specialized coverage at this time. Currently, their home has increased in value by $12,000 since they purchased it five years ago. If something unfortunate should happen, they want to ensure that they are able to rebuild their home using the most current costs. Use this information to complete the table below and determine the total amount of property insurance coverage they will need. Each answer must have a value for the assignment to be complete. Enter " 0 " for any unused categories. Current Financial Situation \begin{tabular}{|c|c|c|c|} \hline Checking account & $6,200 & \begin{tabular}{l} Incone: \\ Gross income (Jamie Lee) \end{tabular} & $69,600 \\ \hline Savings account & $24,100 & Net incone after taxes (Jamie tee) & $51,750 \\ \hline Emergency fund savings account & $22,400 & Gross income (Ross) & $94,000 \\ \hline IRA balance & $27,900 & Net income after taxes (Ross) & $79,909 \\ \hline Car (Janie Lee) & $11,900 & Monthly Expenses: & \\ \hline Car (Ross) & $19,900 & Mortgage & $1,510 \\ \hline Liabilities: & & Property taxes and insurance & $690 \\ \hline Student loan balance & so & Utilities & $140 \\ \hline Credit card balance & $2,090 & Food & $315 \\ \hline Car loans & $7,900 & Gas/maintenance & $225 \\ \hline Original purchase price of home & $394,090 & Credit card payment & $345 \\ \hline & & \begin{tabular}{l} Car loan payment \\ Entertainment \end{tabular} & \begin{tabular}{l} $308 \\ $395 \end{tabular} \\ \hline \end{tabular} Real Property (not applicable to renters) Current replacement value of home Personal Property Estimated value of appliances, furniture, clothing, and other household items (conduct an inventory) Type of coverage for personal property Additional coverage for items with limts on standard personal coverage such as jewelry, firearms. silverware, and photographic, electronic, and computer equipment Diamond wedding band set Personal Liability Amount of additional personal liability cowerage desired for possible personal injury claims Specialized Coverages If appropriate, investigate flood or earthquake coverage excluded from home insurance policies Total Property Insurance Needed