The Need of Renter's Insurance

In this worksheet, students will explore the importance of renter's insurance, even for those who may not have expensive belongings. By examining the average cost of common items found in a rented apartment, students will gain a clearer understanding of the financial value of their possessions and why renter's insurance is a wise investment for safeguarding personal property and financial security.

Activities:

• Item Selection: Students will be provided with a list of common items found in a rented apartment, such as couches, coffee tables, TV stands, and more. Each item will have an associated cost.
• Cost Calculation: Students will select which items they would have in their rented house, and the worksheet will calculate the total cost of all selected items.
• Insurance Decision: Based on the total value of their belongings, students will be asked whether they would prefer to pay $12/month for renter's insurance or risk losing all their possessions in the event of an incident.

This worksheet is designed to provide students with a practical understanding of the importance of renter's insurance, enhancing their financial literacy and preparing them to make smart financial decisions.