Personal Auto (PAP) and Homeowners (HO) Insurance Project

Personal Auto (PAP) and Homeowners (HO) Insurance Project (20 points)

The primary purpose of the project is to familiarize students with the PAP/HO coverage and

procurement process. A secondary objective is to apply the PAP coverage to hypothetical situations

provided by the instructor. You may do the project independently or with no more than three group

members. If you currently have PAP and HO coverage or want to review your parents, those coverages

would be acceptable for project completion.

PAP

1. Describe the insured auto.

2. Describe relevant characteristics of the primary driver.

3. Discuss the reasons why you have procured the PAP from the insurance company and agent used in

this project.

4. Describe the PAP coverage selected, amounts of coverage, premium(s), and rational behind your

choices.

HO

1. Describe the insured residence.

2. Discuss the reasons why you have procured the HO from the insurance company and agent used in

this project. (If you bundled with the PAP and used the same insurer, skip this question)

3. Describe the HO coverage selected, amounts of coverage, premium(s), and rational behind your

choices.

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Solution Preview

 

Personal Auto (PAP) and Homeowners (HO) Insurance Project
Personal Auto (PAP)
Describe the insured auto
The insured auto is BMW X7 (G07)
Describe the relevant characteristics of the primary driver.
The primary driver is a 32-year-old female from California who holds a Master’s degree in accounting. She currently works and lives in San Diego.

(964 words)

Personal Auto (PAP) and Homeowners (HO) Insurance Project was last modified: by