In addition to medical, home, and auto$-$insurance policies, you can choose to purchase additional policies to protect against other types of losses. Consider Steve, a lawyer with a standard HO$-1$ policy with $$425,000$ of insurance on his home, an auto insurance policy with liability limits of $100/300/50,$ and a professional liability policy with a $$100,000$ limit$.$ His daughter recently took a course in personal finance and wants to make sure her father is adequately protected from potential losses. She knows her father has all the standard policies, so she reviews a number of situations that aren$$t always covered under standard policies. For each of the following scenarios, indicate the type of coverage$$one Steve already has or one he should purchase$$that would protect against the loss described.

How to Protect Against This Loss

A flood destroys the basement of the home, causing $$20,000$ in damage.

The cell phone he uses for work matters is stolen when he accidentally leaves it at a restaurant.

He fails to extinguish his campfire before leaving the site; the fire gets out of control and causes $$56,000$ of damage $($both to people and property$)$ in the neighboring campsite.