Need help woth all boxes. Will leave a thumbs up
Newlyweds Jamie Lee and Ross have had several milestones in the past year. They are newly married, recently purchased their first home, and now have twins on the way! Jamie Lee and Ross have to seriously consider their insurance needs. With a family, a home and now bables on the way, they are working on developing a risk management plan to help them should an unexpected event arise. Jamie Lee and Ross created a Household Inventory (see Addendum ). excluding the $2,000 ctiamond wedding band set. They have elected not to get any further liability or other specialized coverage at this time. Currently, their home has increased in value by $13.000 since they purchased it five years ago If something unfortunate should happen they want to ensure that they are able to rebuild their home using the most current costs Use this information to complete the table below and determine the total amount of property insurance coverage they will need. Each answer must have a value for the assignment to be complete Enter "O" for any unused categories Current Financial Situation Assets Income: Checking account $6.300 Gross income Jamie Lee) $70,000 Savings account $24.200 Net income after taxes Jamie Lee) $52.500 Emergency fund savings account $22.500 Gross income (ROS) $95.000 IRA balance $28.000 Net Income after foxes (Ross) 580.750 Car Jamie Lee) $12000 Monthly Expenses: Car Ross $20.000 Mortgage $1.525 Liabilities: Property taxes and insurance $700 Student loan balance $0 Utilities Credit Card balance 52.000 Food $320 Car loans $8.000 Gas/maintenance $230 Credit card payment $350 Original purchase price of home $306.000 Car loan payment $309 Entertainment $400 3145 Student loan balance SO Utilities $145 Credit card balance $2.000 Food $320 Car loans $8,000 Gas/maintenance $230 $350 Original purchase price of home Credit card payment $306,000 Car loan payment Entertainment $309 $400 Real Property (not applicable to renters) Current replacement value of home Personal Property Estimated value of appliances fumiture clothing, and other household items (conduct an inventory) Type of coverage for personal property Additional coverage for items with limits on standard personal coverage such as jewelry, firearms, Silverware and photographic electronic and computer equipment Diamond wedding band set Personal Liability Amount of additional personal liability coverage desired for possible personal injury claims Specialized Coverages If appropriate, investigate food or earthquake coverage excluded from home insurance policies Total Property Insurance Needed
