Question: The Monroes have a HO - 3 policy ( replacement value ) with a $ 5 0 0 deductible, a dwelling value of $ 1

The Monroes have a HO-3 policy (replacement value) with a $500 deductible, a dwelling value of $197,000, an 80% coinsurance requirement, and a current yearly premium of $1,739. There is a $100,000 liability coverage per occurrence.Their House (land has a FMV of $20,000) is valued at $225,000.Is the homeowners insurance coverage appropriate?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...

Q:

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Q:

Consider the following information: Rate of Return if State Occurs State of Economy Boom :57 Bust of Economy .66 .34 Probability of State Stock A .09 .13 Stock B Stock C .03 .19 .24 -.04 a. What is...

Q:

all sections please Toula and Tan Miller of Gainesville, Florida, recently suffered a fire at their home. The fire, which began in a crawl space at the back of the house, caused $45,000 of damage to...

Q:

1. Write a letter to your parent, family members, or yourself in the future about the coverage you currently have (or plan to have) 2. Talk about the coverage in the mini case attached. Write a two...

Q:

1. Write a letter to your parent, family members, or yourself in the future about the coverage you currently have (or plan to have) 2. Talk about the coverage in the mini case attached. Write a two...

Q:

Please explain in details thanks Homework for Chapter 22 and Chapter 23 3 Points You will need to submit this homework for grading. Please retain a copy of it with your answers as the class will be...

Q:

please fill out the table at the end describe what each of the insurances breifly what you would recommend Aaron and Tara Smith have requested your help in developing a plan to manage their risk....

Q:

Answer the following questions about LIABILITY INSURANCE: - Provide correct calculations of the current position - Provide applicable recommendations and a hood explanation Thanks! MINI CASE 1 RISK...

Q:

Answer the following question about LONG TERM CARE - Provide correct calculation of current positiom and applicable recommendations based on this position MINI CASE RISK MANAGEMENT MINI CASE Today is...

Q:

1. Board of Triton Investments is preparing the capital budget for the next financial year. Ten capital projects are under consideration. A capital budget ceiling of $100M. Net present value (NPV)...

Q:

The measure of the complement of a 10 angle is (Simplify your answer. Type an integer or a decimal.)

Q:

Accounting for time means that all benefits and costs are converted to present values, which produces a summary of the net benefits if a project. Why is this tekevant to capital budgeting

Q:

The maturity value of a seven-month promissory note issued July 31, 2021, is $3275. What is the present value of the note on the date of issue if interest is 7.75%?

Q:

Find the voltage gain of the two port network in Problem 15.12 with a 12k-ohm load.

Q:

Do people have a preference for the last thing they taste? Researchers at the University of Michigan designed a study to find out. The researchers gave 22 students five different Hersheys Kisses...

Q:

Show that any n-node binary tree can be converted to any other n-node binary tree using O(n) rotations.

Q:

Posture and Pain Research shows that people adopting a dominant pose have reduced levels of stress and feel more powerful than those adopting a submissive pose. Furthermore, it is known that if...

Q:

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

Q:

Explain one reason why you might experience long response times in getting a Web page from a server in your own city.

Q:

How does a DSL modem differ from a DSLAM?

Q:

What type of circuits are commonly used to build the Internet today? What type of circuits are commonly used to build Internet2?