Understanding Car Insurance: new consumer math curriculum unit

Understanding Car Insurance: new consumer math curriculum unit

Over the weekend, I added a car insurance unit to the Scaffolded Consumer Math Curriculum. If you already own the curriculum, this is a free addition.

I consulted with two car insurance experts to build this unit so that I got it right. Car insurance laws vary state to state, so it's important to talk to a live insurance agent when looking for and deciding on a policy. In the case of an accident, it's much better to have an insurance agent to call than to muddle through trying to file a claim on an app.

For teenagers and young adults, it's important to have an understanding of what coverages are needed and what accidents are covered under each type of insurance. I even ended up with questions about my own car insurance policy while building this unit! 

Most states require some level of car insurance coverage, called compulsory coverage. This coverage helps pay for injuries and some damages if you are in an accident. You then have the option to add additional coverages, including comprehensive and/or collision insurance, to your car insurance policy for added protection.

Do I need comprehensive insurance? This depends. If you are worried about storm damage, or about hitting an animal while driving, then you may want to add comprehensive insurance to your car insurance policy. You will also likely need comprehensive if you lease your car or are still paying a loan. 

Do I need collision insurance? This also depends. Collision insurance significantly increases the cost of a car's insurance policy, so if your car is old and paid off, you may want to skip it. You will likely need collision insurance if you lease your car or are still paying a loan. If you are in an accident, even if it is your fault, collision insurance will help cover the cost of repairing your car. In some states, collision insurance also covers hit and run accidents, though some states have these accidents covered under underinsured auto insurance. It’s important to talk to your insurance agent about your state’s insurance rules so that there are no surprises if and when you are in an accident, whether it is your fault or not.

New car insurance unit in the Scaffolded Consumer Math Curriculum. This photo shows how the student text and student notebook sheets align.

Just like curriculum units 1-16, the new car insurance unit includes a printable student book chapter, a printable teacher book chapter, warm-ups, student notebook sheets, PowerPoint notes that match the student notebook sheets, an editable quiz and all answer keys.

The vocabulary covered in the unit includes: insurance company, car insurance policy, liability insurance, comprehensive insurance, collision, premium, actuary, surcharge, compulsory insurance, deductible, limit, claim, out of pocket expense, total loss.

Consumer Math Curriculum
Scaffolded Consumer Math Curriculum

You can find the Consumer Math Curriculum here.

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