Grant and Brenda Unger are planning to buy a $385 000 home. The home is located three kilometres from a river that occasionally overflows its banks after a heavy rain. They estimate that their personal property is worth $75 000 but they really are not sure. This includes the office and computer equipment that Brenda uses as a freelance writer and a $5000 coin collection inherited from Grant’s father. The Ungers’ net worth, including their current $220 000 home, is $500 000. The Ungers asked their insurance agent to find them the best coverage possible, taking advantage of all possible cost-savings measures. They do not want a lot of out-of-pocket expenses if their home or personal property is destroyed and they want insurance to keep pace with increasing building costs. What type of homeowner’s insurance policy is best for the Ungers? Explain. Should the Ungers buy flood insurance? How do they go about purchasing it? Should the couple buy an umbrella personal liability policy? Explain.