This family of four consists of a mom, dad, a twelve-year-old girl, and a sixteen-year-old boy.The family is about to move into a new house.They also own two cars.Help the Martin family make an insurance plan.An insurance plan simply lists the types of insurance they have or will be purchasing.The plan may also include some details about the insurance.For example, it may list "life insurance worth $500,000" or "health insurance with ABC Agency." For your assignment, make an insurance plan for the Martins.

Help the Martin family shop for car insurance for their 2005 Honda Accord DX, a four-door sedan.Shopping for car insurance is a little like shopping for a new camera.Just like camera stores, different insurance agencies charge different amounts for similar products.People who are financially responsible shop around for the lowest rates.The Martin family has already found one quote:

• $96.67 per month

Find two more quotes for them.You can make phone calls to insurance companies or visit Web Sites.If you call a company, you will want to speak with an insurance agent, the person who sells insurance policies.If you call an agent, let them know up front that this is part of an assignment.Some information you will need to tell the agent includes the following:

• Their bodily injury limit is $100,000
• The main driver is female and married.
• The driver's birth date is 10/16/1961.
• There have been no accidents or violations in the past five years.
• The car has two-wheel, anti-lock brakes, full front air bags, and an anti-theft device (audible alarm).
• The car is used for a commute to work, which is approximately nine miles.
• The vehicle is kept at their residence.
• They live in your home town.
• Their annual mileage is about 10,000 miles.
• They would like their deductible to be $500.

Make an insurance plan.As you create the plan, think about all of the risks this family faces and how they can protect themselves from financial loss.Next to each type of insurance that you list in the plan, write one to two sentences about why you think they need this insurance.