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Choosing Your Car Insurance
- Price per Classroom$2.00
- Grade Levels 7, 8, 9, 10
- Topics Insurance
- Duration 20 Minutes
- Auto Scored? Yes
- Teacher Evaluation Needed? No
Activity Description
In this comprehensive worksheet, students will engage in selecting an auto insurance plan for their car and evaluating its benefits over a simulated period of four years. This activity will help students understand the different levels of coverage provided by various insurance plans and the financial impact of their choices.
Activities:
- Plan Selection: Students will choose an insurance plan for their car - basic, standard, deluxe, or platinum, considering their coverage needs and budget.
- Add-Ons: Students can add optional coverages to their chosen plan, impacting the annual premium.
- Event Simulation: Over a simulated period of four years, students will be presented with a series of events affecting their car (e.g., accidents, theft, natural disasters).
- Coverage Application: For each event, students will identify which type of coverage helps cover the incident and calculate the amount paid by insurance versus out-of-pocket costs.
- Financial Calculation: Students will calculate the total amount paid in premiums and deductibles over four years and compare this with the total value of the risks covered by the insurance.
- Benefit Analysis: Students will analyze the benefits received from having auto insurance, reflecting on the financial protection it provided.
Key Learning Outcomes:
- Insurance Plan Selection: Students will understand how to select an appropriate insurance plan based on coverage needs and budget.
- Cost-Benefit Analysis: Through practical calculations, students will learn to evaluate the financial impact of their insurance choices.
- Real-World Application: This worksheet provides a real-world context for understanding the importance of comprehensive auto insurance coverage.
This worksheet is designed to equip students with the knowledge to make informed decisions about auto insurance, enhancing their financial literacy and preparing them for future responsibilities.
Learning Objective
The primary objectives are to teach students how to assess different coverage options, select appropriate add-ons, calculate insurance premiums, and understand how insurance can mitigate financial risks associated with car ownership. Students will be able to choose a car insurance policy and the add-ons they would like to add -
Teacher Tips
Included with the activity, you can view the tips to clarify student's doubts or to evaluate answers (for a teacher scored worksheet).
- Price per Classroom$2.00
- Grade Levels 7, 8, 9, 10
- Topics Insurance
- Duration 20 Minutes
- Auto Scored? Yes
- Teacher Evaluation Needed? No
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