Refer to the Ken and Beverly Austin Case Study (attached). Next, using the MS Excel Template for Home
Insurance (See attached) answer the questions on that Template and answer all the below questions in Essay format:
What type and how much Home Insurance do the Austin’s have for:
a. Type
b. Contents coverage
c. Premium (annual)
d. Deductible
e. Medical payments (per person)
f. Depreciated or actual cash value of Austin’s property
The fire that destroyed the Austin’s apartment building has also destroyed all of the Austin’s
personal property. Although the depreciated or actual cash value is $5,000. It should cost Ken
and Beverly about $37,000 to replace all of their lost items.
1. How much will the insurance company pay for the Austin’s loss?
2. Will the Homeowners Insurance cover some of the Austin’s loss?
3. If the Homeowner’s Insurance does not cover the Austin’s loss, what type of Homeowner’s Insurance would have covered the value of all of their personal property?
Complete the Microsoft Excel Template and answer all the above questions in a Narrative/Format.
