her mortgage payments are high, and some months, she earns barely enough to cover the essentials. because…

her mortgage payments are high, and some months, she earns barely enough to cover the essentials. because homeowner’s insurance was an added expense, she considered taking her chances and not buying it. however, the bank made it clear that this was not an option... when the agent returned on the line, he sounded like a different person. “ma’am, i’m sorry, but according to our records, you do not have flood insurance protections in your policy. we do offer flood insurance as an add - on to basic homeowner’s, but at additional cost.” which sentence best explains the mistake maggie made? \n○ she failed to properly assess her risk of storm damage. \n○ she did not always make her insurance payments on time. \n× she refused to share the risk of living in an area known for hurricanes. \n○ she should have worked with a different bank to purchase her home.

her mortgage payments are high, and some months, she earns barely enough to cover the essentials. because homeowner’s insurance was an added expense, she considered taking her chances and not buying it. however, the bank made it clear that this was not an option... when the agent returned on the line, he sounded like a different person. “ma’am, i’m sorry, but according to our records, you do not have flood insurance protections in your policy. we do offer flood insurance as an add - on to basic homeowner’s, but at additional cost.” which sentence best explains the mistake maggie made? \n○ she failed to properly assess her risk of storm damage. \n○ she did not always make her insurance payments on time. \n× she refused to share the risk of living in an area known for hurricanes. \n○ she should have worked with a different bank to purchase her home.

Answer

Brief Explanations:

To determine Maggie's mistake, we analyze each option:

  • Option 1: The text doesn't mention storm damage risk assessment, so this is incorrect.
  • Option 2: There's no information about late insurance payments, so this is wrong.
  • Option 3: Maggie considered not buying homeowner's insurance (to save money, as payments are high) and took the risk of living in a hurricane - prone area (implied by flood insurance relevance). So she refused to share the risk (by not getting insurance) of living in a hurricane - prone area.
  • Option 4: The bank's role was about insurance, not the bank for home purchase. So this is incorrect.

Answer:

She refused to share the risk of living in an area known for hurricanes.