1. Monday April 27, 2015 Agenda Homework Review Investing
Finish Auto Insurance Notes
Consumer Protection
Looking at a Lease

2. Civics and Economics Day 146

3. Review What is the relationship between risk and reward?
When should you save and when should you invest?
What is an example of high risk?
What is an example of low risk?
What is an example of moderate risk?
What two types of insurance are you required to have?
Which do you pay every month: premium or deductible?

4. Automobile Insurance

5. Types of Insurance Automobile (Required for Drivers)
Types of insurance can include:
Automobile (Required for Drivers)
Health (Required by The Affordable Health Care Act)
Life
Disability
Homeowners/Renters
And More!

6. Automobile Insurance Types
There are four types of coverage for Automobile Insurance:
Liability insurance
Medical payment insurance
Uninsured or underinsured motorists insurance
Physical damage insurance
Collision
Comprehensive

7. Liability Insurance
Liability Insurance covers the insured if injuries or damages are caused to other people or their property
It is the minimum amount of insurance required by law for automobiles

8. Medical Payment insurance
Medical Payment Insurance covers injuries sustained by the driver of the insured vehicle or any passenger regardless of fault
It also covers family members injured as passengers or if injured as a pedestrian

9. Uninsured motorists insurance
Uninsured or Underinsured Motorists Insurance covers injury or damage to the driver, passengers, or the vehicle caused by a driver with insufficient insurance

10. Physical damage insurance
Physical Damage Insurance covers damages caused to the vehicle
Collision – covers a collision with another object, car, or from a rollover
Comprehensive – covers all physical damage losses except collision and other specified losses

11. Consumer Protection

12. People are out to get your money!
Identity Theft
This is when someone steals your information and uses it for their own!
Online Scams
CONGRATULATIONS YOU JUST WON AN iPAD AIR 2!!!!
PUT IN YOUR BANK ACCOUNT NUMBER AND ADDRESS AND PERSONAL INFORMATION!

13. Schemes Ponzi Schemes Pyramid Scheme
Investment that uses new money that is invested to pay others.
Ex” Guaranteed Investment”
Pyramid Scheme
“ You Pay me $100 dollars and then recruit 10 people who pay $100 and you make $900 and then they recruit 10 people….”

14. Scheme? Multi-level Marketing
A business that earns a percent from the product they have you sell.
You might earn a profit for every person you recruit.

15. How to Protect yourself and others!
Do Not Call List
Solicitors keep calling your house? Put a stop to it.
Read the Everything, including the Fine print
ALWAYS READ THE FINE PRINT ON IMPORTANT DOCUMENTS
Contact someone that can help
Better Business Bureau for bad business practices
They can revoke a license
Attorney General
Fraudulent activity

17. Lease
Part of being an adult is getting a place of your own. Most of us will not buy the first house we move into, so we will have to rent and sign a lease.
Signing a lease is a good idea because it puts into a legally binding document what each person is responsible for and can help protect you!