why fire insurance?
Post on 16-Jul-2015
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Why Is it Important to Get Fire Insurance?
An In forma tive P re s e nta tion for Hig h S c h ool S tude ntsB y J immy He nde rs on a nd Doug G ilbe rt
Insurance Protects You From Three Kinds of Damage
1. Fire Damage - Structural deterioration, loss of
personal items, etc.
2. Smoke Damage-Staining of interior and exterior of
structure, permanent residual odor, etc.
3. Water Damage-Mold, electrical short-circuits, debris,
etc.
~$6.7 Billion in Home Property Damagein the U.S. In 2005
Financially, the Risks of Fire Damage Merit the Cost of Insurance
19.6%•Likelihood of at least 1 fire as a US homeowner
$18,600•Average cost of damage in US home fires
$33,000•Median post-tax US household income
Would you buy fire
insurance for your home?
YesYes
NoNo
Financially, the Risks of Fire Damage Merit the Cost of Insurance
19.6%•Likelihood of at least 1 fire as a US homeowner
$18,600•Average cost of damage in US home fires
$33,000•Median post-tax US household income
Would you buy fire
insurance for your home?
YesYes
NoNo
$000
...
•$8,100 expected cost over a 30-year horizon•Stable, predictable annual cost
BackBack
$500/yr
Financially, the Risks of Fire Damage Merit the Cost of Insurance
19.6%•Likelihood of at least 1 fire as a US homeowner
$18,600•Average cost of damage in US home fires
$33,000•Median post-tax US household income
Would you buy fire
insurance for your home?
YesYes
NoNo$000
...
•$9,000 expected cost over a 30-year horizon•Cost will all come in one year; could be up to ~50% of annual income!
BackBack
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