MNM2615 Assignment 1
Semester 1 2026
Her mortgage payments are high, and some months she earns barely enough to cover
the essentials.
At first she considered taking her chances and not buying homeowners insurance, but
the bank made it clear that this was not an option. . . .
When the agent returned on the line, he sounded like a different person.
"Ma'am, I'm sorry, but according to our records, you do not have flood insurance
protections in your policy. We do offer flood insurance as an add-on to basic
homeowners, but at additional cost."
Why did Maggie not have flood insurance? Check all that apply. - answer-She felt she
needed to save money.
She may have misunderstood her basic homeowners policy.
Her expenses were already high before paying for insurance.
Maggie called her insurance agent after estimating the damages. She had already
spent $2,000 on pumping out the water and repairing the hot water heater, which had
corroded in places.
The agent was polite. He had been getting hundreds of similar calls. . . .
"Ma'am, I'm sorry, but according to our records, you do not have flood insurance
protections in your policy."
What is most likely to happen to Maggie? Check all that apply. - answer-She may have
to pay thousands of dollars to repair and replace her possessions.
She may lose her home.
She may go into debt.
"Ma'am, I'm sorry, but according to our records, you do not have flood insurance
protections in your policy. We do offer flood insurance as an add-on to basic
homeowners, but at additional cost."
What should Maggie do? Check all that apply. - answer-find out how much flood
insurance costs
learn what would be covered by flood insurance
decide if the flood insurance costs will benefit her in the future
Semester 1 2026
Her mortgage payments are high, and some months she earns barely enough to cover
the essentials.
At first she considered taking her chances and not buying homeowners insurance, but
the bank made it clear that this was not an option. . . .
When the agent returned on the line, he sounded like a different person.
"Ma'am, I'm sorry, but according to our records, you do not have flood insurance
protections in your policy. We do offer flood insurance as an add-on to basic
homeowners, but at additional cost."
Why did Maggie not have flood insurance? Check all that apply. - answer-She felt she
needed to save money.
She may have misunderstood her basic homeowners policy.
Her expenses were already high before paying for insurance.
Maggie called her insurance agent after estimating the damages. She had already
spent $2,000 on pumping out the water and repairing the hot water heater, which had
corroded in places.
The agent was polite. He had been getting hundreds of similar calls. . . .
"Ma'am, I'm sorry, but according to our records, you do not have flood insurance
protections in your policy."
What is most likely to happen to Maggie? Check all that apply. - answer-She may have
to pay thousands of dollars to repair and replace her possessions.
She may lose her home.
She may go into debt.
"Ma'am, I'm sorry, but according to our records, you do not have flood insurance
protections in your policy. We do offer flood insurance as an add-on to basic
homeowners, but at additional cost."
What should Maggie do? Check all that apply. - answer-find out how much flood
insurance costs
learn what would be covered by flood insurance
decide if the flood insurance costs will benefit her in the future
