Graham and Eustacia Leyland are planning to buy a $185,000 home near Bethel Corners, NY. The home is in snow country about a mile from Lake Ontario and is situated on the Salmon River that overflows its banks about every two years. They estimate that their personal property is worth $165,000, but they really arent sure. This includes nearly $30,000 of computer and other electronic equipment, a $15,000 coin collection inherited from Grahams father, and $25,000 in irreplaceable artwork. The Leylands net worth, including their current $120,000 home, is about $600,000. The Leylands asked their insurance agent to find them the best coverage, taking advantage of all possible cost-saving measures. They do not want a lot of out-of-pocket expenses if their home or personal property is damaged or lost, and they want their insurance to keep pace with increasing costs. What type of homeowners insurance policy is best for the Leylands? Which covered perils would be of greatest interest living in their location? Given the winter snow and ice common to upstate New York, what recommendations would you make for their Section II (primarily personal liability and medical payments for guests of the homeowner) coverage? Should the Leylands consider also purchasing an umbrella policy?