Purpose

This assignment is intended to help you learn to:

• Explain property and liability insurance.
• Analyze homeowners and auto insurance policies.
• Compare different types of homeowners insurance.
• Explain auto policy and its components.
• Explain flood risk.

Overview

This assignment is designed to have you perform a personal risk management analysis of you and/or your family's property and liability insurance. If you currently do not have these insurance programs, your analysis should explore what your needs are and design a strategy to address, i.e., amount needed, how determined, type of policies, policy features, etc.

If you already have any of those insurance policies, you should have the documents collected from 1-1: Organizing Your Insurance Documents. Now it is time to review and evaluate your own personal property and liability insurance. If you are currently on someone else's policy, like a parent or employer, focus on how these policies protect you and, if there are any gaps, how to protect yourself from these risks.

Action Items

1. Evaluate your automobile insurance policy, homeowners/renters or condo policy, umbrella policy and flood policy.
2. Identify the coverage limits for each line of coverage for your specific policies.
3. Then in a 1-2-page document:
   1. Explain how the coverage protects you and/or your family.
   2. In 1-2 paragraphs, evaluate the adequacy of your policy and if the limit of coverage sufficiently protect you and/or your family.
   3. Provide recommendations for any possible modifications of your policy by reviewing the following resources to see what additional coverage would be beneficial to you.
      • Why Flood Insurance is Failing the U.S.
      • Flood Guidebook
4. By the due date indicated, submit your document.

Purpose This assignment is intended to help you learn to: - Explain property and liability insurance. - Analyze homeowners and auto insurance policies. - Compare different types of homeowners insuranc - Explain auto policy and its components. - Explain flood risk. Overview This assignment is designed to have you perform a personal risk management analysis of you and/or your family's property and liability insurance. If you currently do not have these insurance programs, your analysis should explore what your needs are and design a strateg to address, i.e., amount needed, how determined, type o policies, policy features, etc. If you already have any of those insurance policies, you should have the documents collected from 1-1: Organizing Your Insurance Documents. Now it is time tc review and evaluate your own personal property and liability insurance. If you are currently on someone else' policy, like a parent or employer, focus on how these policies protect you and, if there are any gaps, how to protect yourself from these risks. To Do Assignment Details if you already have any or those insurance poircies, you should have the documents collected from 1-1: Organizing Your Insurance Documents. Now it is time to review and evaluate your own personal property and liability insurance. If you are currently on someone else's policy, like a parent or employer, focus on how these policies protect you and, if there are any gaps, how to protect yourself from these risks. Action Items 1. Evaluate your automobile insurance policy, homeowners/renters or condo policy, umbrella policy and flood policy. 2. Identify the coverage limits for each line of coverage for your specific policies. 3. Then in a 1-2-page document: a. Explain how the coverage protects you and/or your family. b. In 1-2 paragraphs, evaluate the adequacy of your policy and if the limit of coverage sufficiently protect you and/or your family. c. Provide recommendations for any possible modifications of your policy by reviewing the following resources to see what additional coverage would be beneficial to you. - Why Flood Insurance is Failing the U.S. - Flood Guidebook 4. By the due date indicated, submit your document