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Insuring a Standard Home Hillary is the owner of a 2 - year - old home, and is looking to buy a homeowner's insurance policy.

Insuring a Standard Home
Hillary is the owner of a 2-year-old home, and is looking to buy a homeowner's insurance policy. She is primarily concerned with protection from
standard property damaging perils that she has no way of preventing, such as those due to fire, vandallsm, windstorms, and 50 on, and less
concerned about those that she feels she can prevent through frequent maintenance (such as damage caused by malfunctioning of internal structures
Ilke air conditioning or plumbing). Based on the peril coverage it offers, she purchases an
insurance policy.
Her home has a replacement value of $350,000, 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 recelve 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
Hillary's son, Edison, is a college student llving 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 Edison's insurance needs are true? Check all that apply.
Hils property is covered up to 10% of the coverage on the home
He should tell the insurance agency that he parks in a garage to save money on premiums
Edison should purchase an HO-4 broad form insurance pollicy because he is not covered under his parents' pollicy.
Insuring a Condominium
Hillary's parents own a condominium that they fully insured for the replacement value of $210,000. Last year a portion of their roof collapsed due to
the weight of snow after a severe storm, rendering the condo uninhabitable for the month that it took to complete repairs. Based on the coverage
detalls of their condominium form
Insurance policy, the additional living expenses they Incur as a result of the damage (such as the cost of
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