Ned Flanders and Cletus Spuckler both lived in Newcastle, Oklahoma and owned homes there. Ned purchased property insurance to protect against disasters like tornadoes, which are common in the area. A large tornado then destroyed both of their homes. While Ned's insurance paid to rebuild his house, Cletus lost his home and had to live in a shelter since he did not have insurance. The community helped Cletus rebuild. He then learned about property insurance from Ned and purchased a policy to protect his new home.

1. Importance of Property Insurance in America
By: Binny I. Dawson

2. Objectives of this program
Learn the definition of Property Insurance
Learn the importance of Property insurance
Learn the different types of coverage
Have fun while you learn 

3. Meet Ned Flanders…
Hi! I’m Ned Flanders from Newcastle, Oklahoma
I live here with my wife and kids
Like most people here I bought a house on mortgage
Our neighborhood isn’t very safe, so I decided to purchase a property insurance which
covers a few natural disasters too
We’re prone to tornadoes 

4. Meet Cletus Spuckler…
Howdy! My name is Cletus Spuckler!
I live next door to Ned, and live here with my family
I built a house last year and Ned has been asking me to take a property insurance
I don’t see the need to spend my hard-earned money on something that may or may not
happen 

5. Disaster strikes Newcastle, Oklahoma:
Category F5 Tornado rips their houses apart
† Ned, though depressed, remembers that Tornadoes were listed as a
named peril in his insurance policy
† His insurance company paid the replacement cost to rebuild the house!!
Both lost their houses that day 
† Cletus and his family were now homeless, they had put in all their money
on the house and had no savings
† They had to move to a homeless shelter since they couldn’t rebuild the
house. He regretted that he didn’t listen to Ned earlier.

6. The Whole community helped Cletus
rebuild his house
Cletus went to Ned to learn about
property insurance and signed up for a
policy

7. What is Property Insurance?
1. Property insurance provides protection against
most risks to property, such as fire, theft and
some weather damage.
2. This includes specialized forms of insurance such
as fire insurance, flood insurance, earthquake
insurance, home insurance, or boiler insurance.
3. Property is insured in two main ways—open
perils and named perils.

8. Types of Coverage
How does it help us?
There are the three types of insurance coverage
1. Replacement cost coverage pays the cost of repairing or
replacing your property with like kind & quality regardless of
depreciation or appreciation
2. Actual cash value coverage provides for replacement cost
minus depreciation
3. Extended replacement cost will pay over the coverage limit if
the costs for construction have increased. This generally will not
exceed 25% of the limit.

9. Protect your property today!
Content Source: Wikipedia

10. Protect your property today!
Content Source: Wikipedia