Frances is the owner of a 30-year-old home, and is looking to buy a homeowners insurance policy. The previous home she owned was severely damaged by a tree falling through the roof, a peril that was not covered by her basic-form policy, therefore she is looking to buy a comprehensive policy that covers damage from all perils (except those specifically excluded). Based on the peril coverage it offers, she purchases an insurance policy.

Her home has a replacement value of $300,000, therefore she insures her home for the minimum legal requirement of

. Assuming she does not purchase any additional coverage beyond the legal minimums, complete the following table indicating the maximum dollar value of reimbursement she can receive for each of the following:

Damage to personal property:
Medical payments to others:
Loss of Use (Additional living expenses):
Property damage:	Insuring While Away at College Francess son, Dmitri, 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 Dmitris insurance needs are true? Check all that apply. Dmitri should purchase an HO-4 broad form insurance policy because he is not covered under his parents policy. 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 Insuring an Older Home Francess parents live in the home a Victorian style home built in the late 1800s. Although the house is still standing, it has fallen into disrepair, and the cost of rebuilding it with the original style and quality would be extremely high. If their home were destroyed, Francess parents would choose to rebuild a much more modest structure rather than try to restore it to its original state, therefore they purchase a form policy to provide protection.

Insuring a Standard Home Frances is the owner of a 30-year-old home, and is looking to buy a homeowner's insurance policy. The previous home she owned was severely damaged by a tree falling through the roof, a peril that was not covered by her basic-form policy, therefore she is looking to buy a comprehensive policy that covers damage from all perils (except those specifically excluded). Based on the peril coverage it offers, she purchases an insurance policy. Her home has a replacement value of $300,000, therefore she insures her home for the minimum legal requirement of $ . Assuming she does not purchase any additional coverage beyond the legal minimums, complete the following table indicating the maximum dollar value of reimbursement she can receive for each of the following: $ Damage to personal property: Medical payments to others: $ Loss of Use (Additional living expenses): |$ Property damage: |$ Insuring While Away at College Frances's son, Dmitri, 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 Dmitri's insurance needs are true? Check all that apply. Dmitri should purchase an HO-4 broad form insurance policy because he is not covered under his parents' policy. 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 Insuring an Older Home Frances's parents live in the home a Victorian style home built in the late 1800s. Although the house is still standing, it has fallen into disrepair, and the cost of rebuilding it with the original style and quality would be extremely high. If their home were destroyed, Frances's parents would choose to rebuild a much more modest structure rather than try to restore it to it's original state, therefore they purchase a form policy to provide protection. Insuring a Standard Home Frances is the owner of a 30-year-old home, and is looking to buy a homeowner's insurance policy. The previous home she owned was severely damaged by a tree falling through the roof, a peril that was not covered by her basic-form policy, therefore she is looking to buy a comprehensive policy that covers damage from all perils (except those specifically excluded). Based on the peril coverage it offers, she purchases an insurance policy. Her home has a replacement value of $300,000, therefore she insures her home for the minimum legal requirement of $ . Assuming she does not purchase any additional coverage beyond the legal minimums, complete the following table indicating the maximum dollar value of reimbursement she can receive for each of the following: $ Damage to personal property: Medical payments to others: $ Loss of Use (Additional living expenses): |$ Property damage: |$ Insuring While Away at College Frances's son, Dmitri, 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 Dmitri's insurance needs are true? Check all that apply. Dmitri should purchase an HO-4 broad form insurance policy because he is not covered under his parents' policy. 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 Insuring an Older Home Frances's parents live in the home a Victorian style home built in the late 1800s. Although the house is still standing, it has fallen into disrepair, and the cost of rebuilding it with the original style and quality would be extremely high. If their home were destroyed, Frances's parents would choose to rebuild a much more modest structure rather than try to restore it to it's original state, therefore they purchase a form policy to provide protection