PLEASE TAKE A FEW MINUTES TO REVIEW YOUR HOME AND AUTO INSURANCE “DATA CARDS”. WHEN I REVIEW YOUR ASSIGNMENT, I’M LOOKING AT WHAT YOU ADDED TO YOUR PLAN TO MAKE SURE YOU’RE UNDERSTANDING THE BASIC IDEAS OUTLINED IN THIS WEEK’S HOMEWORK ASSIGNMENT.
Part Two: Add Auto and Homeowners Insurance to Your Plan
Save a Screenshot for each Insurance Policy Added to Your Plan. In the image below, I’ve highlighted a few of the fields in the Auto and Home Insurance “Data Cards” and if you pay attention to the details below, you should be able to quickly identify the problems:
Auto
Annual Premium Amount and Coverages… If you added this data to your plan, you can expect a deduction in your assignment – because you’re missing important information.
Home
Your home insurance should be based on the cost of your home.
Your premium (cost of insurance) is something you will need to research.
If your Home insurance “data card” looks like the one below, you can expect deductions on your assignment.
Note: These Deductions will also be applied to your Capstone!
Be sure to address the following coverages in your comments:
— Collision and Deductible (Earn 5 extra points by getting a quote for more than one deductible. How much will you save if you take a $1,000 deductible? Is it worth it? Or, how much more will you pay if you take a $250 deductible?)
— Comprehensive and Deductible
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Consider getting a quote for more than one deductible.
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How much will you save if you take a $1,000 deductible?
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Is it worth it? Or,
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How much more will you pay if you take a $250 deductible?)
— Liability 100/500/100 (address each of these three numbers and what they mean)
— Rental
— Emergency Road Service
— Personal Injury Protection 2500/5000/10000
— Medical Payments Coverage 2500/5000/10000
If you’re employed, you will want PIP (Personal Injury Protection); if you’re unemployed, you will want MPC (Medical Payments Coverage).
— Uninsured
— Underinsured
Also discuss any other coverage offered by the agent you meet with or talk to online. In order to receive full credit for this assignment, you will need to convince me that you understand each of the coverages listed above.
— What is a deductible? How does it work? Explain that, too.
