Question

1. naomi and her partner are buying a house in the city. they want to carry $500,000 in coverage with a $1,000 deductible. naomis credit score is 700. how much should they expect to pay per year for their insurance premium?

type of coverage | dollar amount coverage | deductible | premium | check all that apply
--- | --- | --- | --- | ---
home | $500,000 | $1,000 | $950 |
home | $500,000 | $2,000 | $750 |
home | $750,000 | $1,000 | $1,500 |
home | $750,000 | $2,000 | $1,250 |
home | $1,000,000 | $2,000 | $2,000 |
liability | $250,000 | $500 | $250 |
flood insurance | $300,000 | $750 | $400 |
suburban residence | | | $75 |
city residence | | | $150 |
credit score 675 - 750 | | | $200 |
credit score > 750 | | | $100 |
total: | | | |

$1,300

Explanation:

Step1: Identify Home Insurance Premium

Find the row for Home coverage with $500,000 coverage and $1,000 deductible. The premium is $950.

Step2: Identify City Residence Premium

Since they are buying a house in the city, the City Residence premium is $150.

Step3: Identify Credit Score Premium

Naomi's credit score is 700, which falls in the 675 - 750 range. The premium for this range is $200.

Step4: Sum the Premiums

Add the three premiums: $950 + $150 + $200 = $1300.

Answer:

$1,300