EPF, Module 16: Insurance

Open Ended

What kind of risks do you generally take on a day to day basis?

Multiple Choice

The purpose of insurance is to...

• Build wealth

• Transfer risk

• Manage assets

• Build relationships

Open Ended

Why is it important for insurance companies to have a large risk pool of people paying premiums?

Open Ended

What role does math play in the insurance industry?

Open Ended

How much does a texting while driving ticket increase your auto insurance premium costs?

Multiple Select

Best practices in an accident...

• Stop car in a safe place

• Get the other driver's info

• Call the police

• Take pictures of damage

Open Ended

How much did the website estimate it would cost to replace all the items in your apartment?

Multiple Choice

Why would someone want to have renters insurance if their building owner has insurance?

• The building owner's insurance only covers liability. Renters insurance will cover damage to the exterior and structure of the building

• The building owners insurance only covers the building structure. Renters insurance covers your personal property.

• There is no need to get renters insurance if the building owner already has an insurance policy

• By law, you must have two types of insurance: landlord insurance and renters insurance

Multiple Choice

The coverage under renters insurance will cover the cost of the following items EXCEPT

• Your personal belongings

• The damage to the building

• Hotel you have to stay at until apartment can be repaired

• Small alterations to the property at your own expense

Multiple Choice

What is the purpose of liability coverage on a renter's insurance policy?

• It covers only damage to the exterior of the unit

• It covers your medical bills if you are injured on the property

• It covers unintended damages and accidents in the rental

• Liability coverage is not available on a renters insurance policy, only on a landlord policy

Multiple Choice

There is NO NEED for a college student to have renters insurance policy

• True

• False

• N/A

• N/A

Open Ended

How much will you pay for the damages?

Open Ended

How much will your insurance pay?

Open Ended

How much does an average overnight hospital stay cost?

Open Ended

What are some of the different ways Americans can access coverage? (According to the previous slide.)