Personal Finance 1st Edition by Jack R. Kapoor

Exercise 15

Explain how Shelby and Mark might use the Personal Financial Planner sheets as they assess property insurance.

a.     Determining Needed Property Insurance

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b.    Automobile Insurance Cost Comparison

Step 1 of 2

(a) Shelby and Mark would use personal financial planner sheets to determine needed property insurance by determining the current replacement value of home and estimated the value of personal property. They can determine what type of coverage they require and if they require specialized coverages also based on their need and affordability to pay the premium amount. They can compare companies to find the best deal at lowest possible premium and which offers more coverage.