Or – do each of their policies have pros and cons, in your opinion?

Learning Goal: I’m working on a business question and need an explanation and answer to help me learn.Jordan and Taylor are neighbors, who each own a single family home in the same Planned Unit Development. For this reason, their houses are essentially identical – the same year built, square footage, etc. (And assume for the purposes of this question, that they have both maintained their houses equally, with no major claims, renovations, etc. for either of them). The Replacement Cost value of each of their homes is $300,000. One day, they decide to compare their property insurance policies, which are written with different insurance companies. It turns out, their premiums are almost identical, too – within a few dollars of one another. But some of the information looks different. Based on the below summary of their two policies, who do you think is getting “more bang for their buck”? Or – do each of their policies have pros and cons, in your opinion? How and why?Jordan’s Policy:-Special Form-$5,000 Deductible Per Claim-$265,000 Limit (Replacement Cost)-90% Co-Insurance ProvisionTaylor’s Policy:-Basic Form-$1,000 Deductible Per Claim-$250,000 Limit (Replacement Cost)-80% Co-Insurance Provision
Requirements: A paragraph   |   .doc file