1. What are some different types of insurance, and why do you need them?
WARM UP
What are some different types of insurance, and why do you need them?

2. Monday, November 30, 2015
Objective: Students will be able to evaluate the costs and benefits of buying insurance. Purpose: You will need insurance to protect your belongings if they are ever damaged.

3. Insurance Costs Coverage
Premium: the cost of obtaining and keeping insurance
Deductible: the amount you have to pay for expenses before the insurance company will cover the remaining costs
Coverage
Replacement Cost
Get several estimates before choosing a policy
Read through each policy

4. Types of Insurance Auto Insurance
Required by law in all 50 states and DC
Collision Insurance: covers the costs for all damages that result from an accident
Comprehensive Coverage: pays for damages such as theft, broken glass, and vandalism
Liability: covers costs for damages to property, injuries, and court costs

5. Types of Insurance Health Insurance Required by Federal law
Regular medical coverage
For primary medical care
Most insurance plans will allow you to get an annual physical for free
Dental coverage
Vision coverage

6. Types of Insurance Differences in Health Insurance Plans
Degree to which you can choose your doctor (in network or out of network)
Types of procedures covered
Deductible amount
Copayment amount
Annual limits

7. Types of Insurance Property Insurance Renter’s Insurance
Protects belongings against damage and destruction from fire, wind, lightning, and theft
Flood Insurance
Home Insurance
Protects belongings in a home and on the property from damage and theft

8. Types of Insurance Life Insurance Disability Insurance
Prevents a family from financial losses from occurring after a person dies
Disability Insurance
pays benefits to individuals who lose their ability to work due to injury or illness