Question

(a) What additional property protection would Enlai have if she purchased an HO-2 policy?
(b) What additional property protection would Enlai have if she purchased an HO-3 policy?
(c) What property protection would remain largely the same whether Enlai had an HO-1, HO-2, or HO-3 policy?
(d) Advise Enlai on what differences in liability protection, if any, exist among the three policies.

Enlai Li Zhang of Lancaster, California recently bought a home for $700,000. The previous owner had a $600,000 HO-1 policy on the property, and Enlai can simply pay the premiums to keep the same coverage in effect. Her insurance agent called her and cautioned that she would be better off to upgrade the policy to an HO-2 or HO-3 policy. Enlai has turned to you for advice. Use the information in Table 10-1 to advise her.



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  • CreatedNovember 26, 2014
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