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Financial Literacy in Action
Tutorial: Automobile Insurance

Access http://www.bbb.org/alerts/article.asp?ID=431
Answer the following questions:

  • Even though all states do not require it, why is it a good idea for drivers to have automobile insurance?
  • In your own words describe the following types of automobile insurance coverage: bodily injury liability, property damage liability, personal injury protection, collision, comprehensive physical damage, and uninsured or underinsured motorist. Which of the types of coverage is it most essential that teenage drivers have?
  • Of the ways to save money on automobile insurance that are listed, which are the three that you think would save you the most money?
  • Write a brief letter to a friend explaining what steps you think he or she should take to avoid becoming the victim of auto insurance fraud.
Insurance - Tutorial: Asset Allocation
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