Neha is the owner of a 15-year-old home, and is looking to buy a homeowner's insurance policy. She fecis it would be overly cautious to purchase protection from all perits, but in addition to protection from fire, vandalism, windstorms, and so on, she also wants insurance for damage caused by malfunctioning of internal structures like air conditioning or plumbing. Based on the peril coverage it offers, she purchases an bolicy, insurance Her home has a replacement value of $00,000, 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 receive for each of the following: Insuring While Away at College Neha's son, Lorenzo, is a college student living in an off-campus apartment where he resides year round. He owns an expensive computer and wants to make sure the full value is insured. Which of the following statements regarding torenzo's insurance needs are true? Check all that apply. If he purchases an HO4 policy, he can choose the value of the property he wishes to insure His computer is covered under his parents' policy Lorenzo shoutd purchase an HO-2 broad form insurance policy because he is not covered under his parents' policy. Insuring a Condominium Neha's parents own a condominium that they fully insured for the replacement value of $300,000, 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 details of their condominium form insurance policy, the additional living expenses they incur as a result of the damage fsuch as the cost of staying in a hotel during the repairs) were not eligible for will be reimbursed up to 40% of the personal property insurance will not be reimbursed will be reimbursed up to 20% of the personal property insurance Neha is the owner of a 15-year-old home, and is looking to buy a homeowner's insurance policy. She fecis it would be overly cautious to purchase protection from all perits, but in addition to protection from fire, vandalism, windstorms, and so on, she also wants insurance for damage caused by malfunctioning of internal structures like air conditioning or plumbing. Based on the peril coverage it offers, she purchases an bolicy, insurance Her home has a replacement value of $00,000, 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 receive for each of the following: Insuring While Away at College Neha's son, Lorenzo, is a college student living in an off-campus apartment where he resides year round. He owns an expensive computer and wants to make sure the full value is insured. Which of the following statements regarding torenzo's insurance needs are true? Check all that apply. If he purchases an HO4 policy, he can choose the value of the property he wishes to insure His computer is covered under his parents' policy Lorenzo shoutd purchase an HO-2 broad form insurance policy because he is not covered under his parents' policy. Insuring a Condominium Neha's parents own a condominium that they fully insured for the replacement value of $300,000, 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 details of their condominium form insurance policy, the additional living expenses they incur as a result of the damage fsuch as the cost of staying in a hotel during the repairs) were not eligible for will be reimbursed up to 40% of the personal property insurance will not be reimbursed will be reimbursed up to 20% of the personal property insurance
