Lenny works at a hotel in accounting. He is planning on purchasing a home and has met with an insurance agent. However, he is really not clear about all the policies that they discussed. Which of the following statements is correct?

It is better to purchase a named peril homeowners policy. PLUPs are generally inexpensive relative to the coverage they provide. The rates on auto insurance are relatively uniform among the states. It is important to get a homeowners policy that provides for contents protection equal to actual cash value.