Standard #: SS.8.FL.6.4


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Discuss why insurance policies that guarantee higher levels of payment in the event of a loss (coverage) have higher prices.


Remarks


Explain how a deductible affects the payout on an auto insurance claim, and how the individual’s choice of deductible affects the price of the policy at the time it is purchased.

General Information

Subject Area: Social Studies
Grade: 8
Strand: Financial Literacy (Adopted in 2023)
Standard: Protecting and Insuring
Date Adopted or Revised: 06/14
Status: State Board Approved

Related Courses

Course Number1111 Course Title222
2104060: M/J Introduction to Personal Financial Literacy (Specifically in versions: 2019 - 2022, 2022 - 2023, 2023 and beyond (current))


Related Access Points

Access Point Number Access Point Title
SS.8.FL.6.AP.4 Identify why insurance policies that guarantee higher levels of payment have higher prices.


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