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Name: FORMTEXT ?????Date: FORMTEXT ?????School: FORMTEXT ?????Facilitator: FORMTEXT ?????6.04 Property InsurancePart I: Instructions: In each of the following situations which type or types of homeowners coverage (property, loss of use, liability) would you expect to cover your loss? Explain why. 1. A neighbor’s kid comes into your backyard and jumps on the trampoline without your permission or knowledge. He falls off and lands on his head, resulting in a week’s hospital stay. FORMTEXT ?????2. When it’s time move out, your landlord inspects the property and claims you have damaged the apartment and is keeping your security deposit. Will the renters insurance cover this loss? FORMTEXT ?????3. You are cooking on your stove when your BFF calls. You move into the den while talking to her. Meanwhile, your food on the stoves gets too hot, and starts a fire which destroys your kitchen and damages the entire apartment building. FORMTEXT ?????4. You are going on a trip and your neighbor agrees to let your dog stay with him since you don’t want your dog to be lonely. But, your dog misses you and destroys the neighbor’s carpet. FORMTEXT ?????5. A fire from another apartment destroys much of your apartment and your belongings. FORMTEXT ?????6. A pipe accidentally bursts inside the wall of your home and the water destroys your belongings and floods the basement. Walls and flooring will have to be replaced. FORMTEXT ?????7. Your house is broken into, and your iPad, television, and some jewelry are stolen. FORMTEXT ?????Part II: Instructions: Answer the following questions.8. Explain the difference between Actual Cash Value and Replacement Value. Which one provides more protection? FORMTEXT ?????9. Why should you take an inventory of your possessions? FORMTEXT ?????10. Your room-mate told you she doesn’t need renter’s insurance because her parent’s homeowner’s policy covers her stuff. How will you convince her to buy renter’s insurance? FORMTEXT ?????11. Your other room-mate says she doesn’t need renter’s insurance because the landlord must surely have insurance on the building. How will you convince her to buy renter’s insurance? FORMTEXT ?????12. List 5 ways you can reduce the chance of loss at your home. FORMTEXT ????? FORMTEXT ????? FORMTEXT ????? FORMTEXT ????? FORMTEXT ????? ................
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