Insurance
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This module breaks down the world of insurance, explaining how insurance works, the main types you’ll encounter (car, health, renters), and what to watch for when choosing a plan. It then walks through selecting the right coverage, filing claims effectively, spotting scams, and debunking common myths. By the end, you’ll know how to protect yourself and your money from life’s unexpected curveballs.
Learning Objectives:
Upon completion of this module, students will:
- Define insurance, explain key terms (premium, deductible, coverage limit), and describe how pooled risk protects you financially.
- Identify and differentiate between major insurance types—car, health, and renters—and explain when each is needed.
- Compare insurance plans by evaluating premiums, deductibles, and coverage limits, and recognize red flags and hidden fees.
- Outline the steps to file a claim, gather evidence, and challenge unfair denials or lowball offers.
- Debunk common insurance myths, recognize scams, and develop money-saving strategies (bundling, discounts, raising deductibles).
Curriculum
- 5 Sections
- 5 Lessons
- 10 Weeks
- Insurance IntroductionIntroduction of Insurance1
- Part 1Introduces insurance as a financial “shield” against big, unexpected costs by paying regular premiums into a shared pool. Explains the roles of deductibles and claims, then covers three teen-relevant policies—car insurance (liability, collision, comprehensive), health insurance (premiums, deductibles, copays), and renters insurance (personal property, liability, additional living expenses).2
- Part 2Shows how picking a plan is like choosing the right ice-cream flavor—balancing cost against coverage. Teaches you to assess your needs and risk, compare premiums versus deductibles, check coverage limits, watch for hidden “junk” fees, and apply money-saving hacks such as bundling policies, student/safe-driver discounts, and annual rate shopping.2
- Part 3Lays out a three-step claims process: gather evidence (photos, police/medical reports), file promptly via app or call center, and push back if you’re underpaid or denied—escalating to supervisors or state regulators. Warns against common frauds: fake insurers, unsolicited “better deal” calls, inflated repair bills, and staged accidents.2
- Part 4Busts top misconceptions (e.g., “I’m young so I don’t need insurance,” “cheapest is best,” “insurance covers everything,” “renters policies are pointless”). Provides a timeline for when to get each type of coverage (car when you drive, renters when you move out, health until 26 and beyond, plus optional pet, phone, life). Ends with key action steps: shop and compare annually, read your policy, document everything, seek discounts, and fight unfair claims.2
Niel
Teacher Neil brings finance to life through inquiry-based learning and collaborative projects. With over 20 years of experience in investment banking, Neil loves to pass along financial wisdom to his students in an engaging way. He encourages critical thinking by guiding students to explore real-world financial challenges, such as planning a vacation on a budget or launching a mock business. Neil emphasizes research, peer discussion, and reflection to deepen understanding. By integrating case studies and current events, he helps learners connect theory to practice. His classroom feels like a think tank, where students actively engage with financial concepts, ask questions, and co-create solutions—building confidence, teamwork, and a lasting grasp of money management.
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