Chapter 6 Personal Risk Management. Slide 2 What Is Homeowner’s Insurance? Homeowner’s insurance...
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Transcript of Chapter 6 Personal Risk Management. Slide 2 What Is Homeowner’s Insurance? Homeowner’s insurance...
Chapter 6
Personal Risk Management
Slide 2
What Is Homeowner’s Insurance?
• Homeowner’s insurance protects the policyholder from risk of loss to a home and its contents.
• It covers three types of risk.o Fire and other hazardso Criminal activityo Personal Liability
• Acts of nature may not be covered.
6-3 Protecting Property
Slide 3
Home Inventory
6-3 Protecting Property
Create a home inventory in case you need to file a claim.
Slide 4
How Does Insurance Protect Car Owners?
6-3 Protecting Property
• Automobile insurance protects a car owner from losses as a result of accidents and other events.
• Cost depends on model and style of car, age, and driving record of driver.
Slide 5
Types of Coverage
6-3 Protecting Property
• Full coverage is required if you have a car loan. It includes:o Liabilityo Collisiono Comprehensiveo Personal injury protectiono Uninsured/Underinsured Motoristo Towing/Rental Car
Slide 6
How Can You Reduce Insurance Costs and Maximize Benefits?
6-3 Protecting Property
• Reducing costs can raise overall risk.• Lower costs using
strategies such as higher deductibles, buying online, or comparison shopping.
• Maximize benefits by reviewing your policy or getting umbrella coverage.