Amy is the owner of a 30-year-old home, and is looking to buy a homeowner’s insurance policy. The previous home she owned was severely damaged by a tree falling through the roof, a peril that was not covered by her basic-form policy, therefore she is looking to buy a comprehensive policy that covers damage from all perils (except those specifically excluded). Based on the peril coverage it offers, she purchases an HO-8 insurance policy. Her home has a replacement value of $450,000, 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: Damage to personal property: Medical payments to others: Loss of Use (Additional living expenses): Comprehensive personal liability:
Amy is the owner of a 30-year-old home, and is looking to buy a homeowner’s insurance policy. The previous home she owned was severely damaged by a tree falling through the roof, a peril that was not covered by her basic-form policy, therefore she is looking to buy a comprehensive policy that covers damage from all perils (except those specifically excluded). Based on the peril coverage it offers, she purchases an HO-8 insurance policy.
Her home has a replacement value of $450,000, 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:
| Damage to personal property: | |
| Medical payments to others: | |
| Loss of Use (Additional living expenses): | |
| Comprehensive personal liability: |
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