Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Through a client referral, you have secured a meeting with a prospective customer. Her name is Sharon Jones. By the end of the initial telephone

Through a client referral, you have secured a meeting with a prospective customer. Her name is Sharon Jones. By the end of the initial telephone interview, you learned that she owns her own townhouse from which she runs a small catering business. To supplement her income from the business, she also offers personalized cooking classes from her home. Because her entire livelihood is earned in her house, she is looking for a comprehensive home insurance plan to suit her needs along with recommendations on a commercial insurance policy for her business.

Through further discussions, you learn that she owns some valuable jewellery inherited from her mother, a collection of Hollywood movie memorabilia from the 1930’s, and a home computer that she uses for business. Her kitchen is, of course, state-of-the-art, and features professional-quality appliances.

Since the home is situated in the city, far away from any bodies of water, we can generally assume that there is not a very high risk of flood. However, you have taken a look at the neighbourhood and discovered that it is a relatively high-crime area of the city

When assessing your client to determine her insurance needs, use the following questions to assist you:

  1. What three (3) aspects of loss should you consider in order to perform a risk assessment?
  2. Identify the subjects of insurance.
  3. What are the greatest potential perils of loss to physical property?
  4. List some other perils that may cause loss.
  5. What considerations will you take into account when estimating the value for potential financial loss?
  6. What advice will you give the insured?
  7. What recommendations for coverage would you make, including property and liability?

Step by Step Solution

3.42 Rating (149 Votes )

There are 3 Steps involved in it

Step: 1

According to the case in the questions three aspects of loss that should be considered are Loss on d... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Communication Process and Product

Authors: Mary Ellen Guffey

6th Edition

324578679, 9780324578683, 9780324542905, 176721258, 9780324578676, 324542909, 9780176721251, 978-0324542905

More Books

Students also viewed these Business Communication questions

Question

Did it strengthen or weaken the company? How? Why?

Answered: 1 week ago

Question

3 > O Actual direct-labour hours Standard direct-labour hours...

Answered: 1 week ago

Question

List effective tools for building interest in a persuasive request.

Answered: 1 week ago