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SMC|Academic Programs|Business Department|Personal Insurance

Personal Insurance

3 Units
Prerequisite: NONE

Catalog Description:

In this course, students will learn the essentials of personal insurance coverages. Personal property and liability topics will include automobile, homeowners, and other residential insurance, such as earthquake, flood, marine and miscellaneous coverages. The basics  of financial planning, life insurance and health insurance will also be covered.

Course Objectives:

Upon completion of the course students will be able to:
A.    discuss personal and family loss exposures and types of personal insurance policies;
B.    explain the problems and challenges associated with personal auto insurance, such as no-fault insurance, high-risk dirvers and compensation of victims;
C.    explain the principals of rating of automobile insurance;
D.    discuss the regulation of personal auto insurance;
E.    identify the parts of an automobile policy, including liability, medical payments, collision, comprehensive and uninsured motorists coverages and personal automobile policy conditions;
F.    evaluate homeowners insurance as it relates to policy variations, endorsements and ratings;
G.    explain residential insurance as it relates to disasters such as earthquakes, floods, fires and  other residential insurance policies, such as marine floaters, watercraft policies and umbrella liability policies;
H.    discuss financial planning as it impacts personal loss, social security, retirement plans and annuities;
I.    explain the need for life insurance and the various types of life insurance that are available;
J.    discuss health care problems in the United States, the need for health and disability insurance and coverage options such as major medical, dental, long-term care, disability, etc.
       
Course Content:

10%    Family Loss Exposures
5%    Problems and Challenges of Personal Auto Insurance
5%    Rating Auto Insurance
5%    Regulation of Personal Auto Insurance
15%    Parts of an Automobile Policy
10%    Evaluation of Homeowners Insurance
10%    Types of Residental Insurance Coverages
10%    Financial Planning
15%    Life Insurance
15%    Health Insurance