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In addition to medical, home, and auto-insurance policies, you can choose to purchase additional policies to protect against other types of losses. Consider Nathan, a psychiatrist with a standard HO-1 policy with $450,000 of insurance on his home, an auto insurance policy with liability limits of 100/300/50, and a professional liability policy with a $50,000 limit. His daughter recently took a course in personal finance and wants to make sure her father is adequately protected from potential losses. She knows her father has all the standard policies, so she reviews a number of situations tha aren't always covered under standard policies. For each of the following scenarios, indicate the type of coverage-one Nathan already has or one he should purchase that would protect against the loss described. How to Protect Against This Loss A flood destroys the basement of the home, causing $20,000 in damage. A burglar steals a piece of art (valued at $85,000) from his living room. The laptop he uses for work is stolen out of his car. Already covered under professional liability policy Buy comprehensive personal liability insurance statements In addition to these policies, he is considering an umbrella liability insurance regarding umbrella policies are true? Check all that apply. Buy flood insurance policy Buy floater policy of his If Nathan is sued by a client and must pay $55,000 in damages, his professional liability policy. Already covered under HO-1 The cost of the additional umbrella policy is high and is only worth that cost if Nathan is wealthy. If Nathan causes an automobile accident and the medical bills for the other driver and his or her passenger are $110,000 ($80,000 and $30,000, respectively), the umbrella policy will cover $10,000 of the cost. In addition to medical, home, and auto-insurance policies, you can choose to purchase additional policies to protect against other types of losses. Consider Nathan, a psychiatrist with a standard HO-1 policy with $450,000 of insurance on his home, an auto insurance policy with liability limits of 100/300/50, and a professional liability policy with a $50,000 limit. His daughter recently took a course in personal finance and wants to make sure her father is adequately protected from potential losses. She knows her father has all the standard policies, so she reviews a number of situations that aren't always covered under standard policies. For each of the following scenarios, indicate the type of coverage-one Nathan already has or one he should purchase-that would protect against the loss described. How to Protect Against This Loss A flood destroys the basement of the home, causing $20,000 in damage. A burglar steals a piece of art (valued at $85,000) from his living room The laptop he uses for work is stolen out of his car. . Buy comprehensive personal liability insurance In addition to these policies, he is considering an umbrella liability insurance Already covered under professional liability policy statements regarding umbrella policies are true? Check all that apply. Buy floater policy If Nathan is sued by a client and must pay $55,000 in damages, his Already covered under HO-1 of his professional liability policy. The cost of the additional umbrella policy is high and is only worth that cost if Nathan is wealthy. If Nathan causes an automobile accident and the medical bills for the other driver and his or her passenger are $110,000 ($80,000 and $30,000, respectively), the umbrella policy will cover $10,000 of the cost. In addition to medical, home, and auto-insurance policies, you can choose to purchase additional policies to protect against other types of losses. Consider Nathan, a psychiatrist with a standard HO-1 policy with $450,000 of insurance on his home, an auto insurance policy with liability limits of 100/300/50, and a professional liability policy with a $50,000 limit. His daughter recently took a course in personal finance and wants to make sure her father is adequately protected from potential losses. She knows her father has all the standard policies, so she reviews a number of situations that aren't always covered under standard policies. For each of the following scenarios, indicate the type of coverage-one Nathan already has or one he should purchasethat would protect against the loss described. How to Protect Against This Loss A flood destroys the basement of the home, causing $20,000 in damage. A burglar steals a piece of art (valued at $85,000) from his living room. The laptop he uses for work is stolen out of his car. statements Buy floater policy In addition to these policies, he is considering an umbrella liability insurance regarding umbrella policies are true? Check all that apply. Buy comprehensive personal liability insurance If Nathan is sued by a client and must pay $55,000 in damages, his Already covered under HO-1 professional liability policy. Already covered under professional liability policy The cost of the additional umbrella policy is high and is only worth that cost if Nathan is wealthy. of his If Nathan causes an automobile accident and the medical bills for the other driver and his or her passenger are $110,000 $80,000 and $30,000, respectively), the umbrella policy will cover $10,000 of the cost

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