Order ID:89JHGSJE83839 | Style:APA/MLA/Harvard/Chicago | Pages:5-10 |
Instructions:
Standard HO-3 Homeowner’s Policy Assignment
Question Description
You own a home with a market value of $175,000. Of this amount, $50,000 is apportioned to the land and $125,000 is apportioned to the house. It is estimated that the house would cost $135,000 to rebuild. The personal property in your own home is worth $55,000, including a $3,5000 diamond ring and a $4,500 computer system.
You also own a car worth $25,000. You live in a state where there is a high risk for earthquakes. You have $100,000 in savings and investments that could be drawn on in case of emergency.
You currently have a standard HO-3 homeowner’s policy with a $1,000 deductible, which insures your house for $175,000 and your personal belongings for $85,000, and you carry the minimum requirements of your state for car insurance. You have been advised to adjust your insurance coverage based on the large-loss principle.
Based on the large-loss principle and your particular situation a ($0, $500, $1000, $5000) is most appropriate for your homeowner’s policy.
Given your current insurance coverage, in the event of a fire, your house and household belongings are over-insured by ($55,000, $70,000, $145,000, $30,000)
If you were to reduce the coverage on your home to its replacement value of $135,000, then your personal property coverage could also be reduced to ($76,000, $67,500, $112,500). This is because the minimum personal coverage available on a HO-3 policy is (35%, 40%, 50%, 60%) of the home coverage.
If you were to total your car in an accident at which you are at fault, your insurance company is likely to pay ($0, $19,500, $25,000).
Assume your state’s minimum liability limits for an automobile policy 25/50/25. Next assume that your cause an accident that involves multiple injuries to three people, each with medical expenses of $200,000. The maximum bodily injury payout that could be made on your behalf by your insurance company for this accident is ($25,000, $1,000,000, $150,000, $600,000, $500,000, $75,000, $50,000).
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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Standard HO-3 Homeowner’s Policy Assignment |
Standard HO-3 Homeowner’s Policy Assignment