Vikki and Tim Treble have been married for two years. They bought and moved into their first house within the last six months and have been decorating and making minor renovations ever since. The first room they concentrated on was the baby’s room. Their daughter Molly was born only two months ago.
Vikki is on maternity leave and will soon return to work full-time. Due to all of the changes within their family and home, Vikki and Tim are re-evaluating their insurance coverage. Even Vikki’s parents, who just lowered their premium with new auto insurance coverage, advise Vikki and Tim to review their home and auto policies annually. The young couple knows that they haven’t paid much attention to insurance before. It is time they ask themselves: Do we have the right coverage for our home and auto’s?
What insurance goals and risk management plan should Vikki and Tim have?