Why Is it Important to Get Fire Insurance? <ul><li>An Informative Presentation for High School Students </li></ul><ul><li>...
Case Study- San Diego
Insurance Protects You From Three Kinds of Damage 1.  Fire Damage -  Structural deterioration, loss of personal items, etc...
Financially, the Risks of Fire Damage Merit the Cost of Insurance <ul><li>19.6% </li></ul><ul><li>Likelihood of at least 1...
Financially, the Risks of Fire Damage Merit the Cost of Insurance <ul><li>19.6% </li></ul><ul><li>Likelihood of at least 1...
Financially, the Risks of Fire Damage Merit the Cost of Insurance <ul><li>19.6% </li></ul><ul><li>Likelihood of at least 1...
References <ul><li>All Images and video courtesy of Creative Commons </li></ul>
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Why Fire Insurance?

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Why Fire Insurance?

  1. 1. Why Is it Important to Get Fire Insurance? <ul><li>An Informative Presentation for High School Students </li></ul><ul><li>By Jimmy Henderson and Doug Gilbert </li></ul>
  2. 2. Case Study- San Diego
  3. 3. 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 Damage in the U.S. In 2005
  4. 4. Financially, the Risks of Fire Damage Merit the Cost of Insurance <ul><li>19.6% </li></ul><ul><li>Likelihood of at least 1 fire as a US homeowner </li></ul><ul><li>$18,600 </li></ul><ul><li>Average cost of damage in US home fires </li></ul><ul><li>$33,000 </li></ul><ul><li>Median post-tax US household income </li></ul>Yes No Would you buy fire insurance for your home?
  5. 5. Financially, the Risks of Fire Damage Merit the Cost of Insurance <ul><li>19.6% </li></ul><ul><li>Likelihood of at least 1 fire as a US homeowner </li></ul><ul><li>$18,600 </li></ul><ul><li>Average cost of damage in US home fires </li></ul><ul><li>$33,000 </li></ul><ul><li>Median post-tax US household income </li></ul>Yes No $000 ... <ul><li>$8,100 expected cost over a 30-year horizon </li></ul><ul><li>Stable, predictable annual cost </li></ul>Back $500/yr Would you buy fire insurance for your home?
  6. 6. Financially, the Risks of Fire Damage Merit the Cost of Insurance <ul><li>19.6% </li></ul><ul><li>Likelihood of at least 1 fire as a US homeowner </li></ul><ul><li>$18,600 </li></ul><ul><li>Average cost of damage in US home fires </li></ul><ul><li>$33,000 </li></ul><ul><li>Median post-tax US household income </li></ul>Yes No Back Would you buy fire insurance for your home? $000 ... <ul><li>$9,000 expected cost over a 30-year horizon </li></ul><ul><li>Cost will all come in one year; could be up to ~50% of annual income! </li></ul>
  7. 7. References <ul><li>All Images and video courtesy of Creative Commons </li></ul>

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