PROPERTY AND VEHICLE INSURANCE Talk about being a bad week for the Marcottes!!This really has been a terrible week for them. Visiting friends had borrowed their car, and ended up backing into a parked car at the grocery store which caused minor damage to both cars. As if this was not bad enough, a neighborhood kid put a stone through their window which hit the TV, and ended up causing enough damage that they will have to replace it. If the Marcottes did not understand the importance of having adequate insurance they do this week! This week they will have to deal with the insurance agents, and this may be a good time to examine the right coverage for both their home and automobile. Like most people they had simply paid their premiums and not really taken the time to examine the particulars of their policies. It is important that they answer some of the general considerations for their insurance needs and some particulars based on this week's incidents. Each question is worth 5 points. 1. What are the perils and hazards the Marcottes need to consider when choosing their policy? 2. What kind of discounts might they be eligible for? 3. What is the "Automobile Financial Responsibility/Compulsory Insurance Minimum in the state of California? Explain the insurance coverage. 4. With the Basic Form HO-1 coverage for home insurance, what would the Marcottes face when a storm causes the basement to food, and a tree falling on their roof? 5. Compare the replacement cost to the cash value of their TV bought 3 years ago for $1300 Depreciation rate is B. Describe the financial advantage of replacement cost. Dan Google Drive Mon