Lesson Plan

Lesson: Home & Auto Insurance Grade: Highschool

Class: Financial Literacy Date: 4/11/19

Overview / Purpose Standards

Understand why we have insurance what Identify ways insurance may minimize
it covers, and what it will cost. personal financial risk.

Recognize different types of insurance.

Objectives
Explain the need and provisions of homeowners insurance.
Explain the need and types of auto insurance coverage.
Materials Needed
Textbook (Financial Literacy)
Drawing paper & Pencil
Powerpoint
Hook
Auto Insurance Commercial, showing that life is unpredictable.
Procedure
Powerpoint presentation explaining the 5 types of auto insurance and what they
cover. (Liability, Collision, Personal Injury Protection, Uninsured Motorist,
Comprehensive). I will draw different examples of car accidents on the board and
have students explain what and who would be covered in each scenario, given a
certain type of insurance. We will then talk about auto insurance prices and who will
pay more for it, Using statistics for who gets into more accidents, gender and age.
Students will then learn about the basics of homeowners insurance and the 3 things it
will cover. (Liability, Hazards, Crime). Students will then learn the importance of
creating a home inventory and the difference between what they paid for something
and what they will actually get paid back from the insurance company.
Closure
Students will create their own home inventory by drawing a map of their own homes,
estimating the cost of everything in each room. Once students are finished with their
drawings and cost estimates we will discuss why it is important to keep track of their
personal belongings and how expensive it would be to replace it all on their own.
Student Evaluation
Students will be evaluated on their understanding of auto and home insurance
through questions I ask during class and their participation in discussion.