Handout: Renters Insurance

Part I (20 minutes): Imagine you are a recent high school graduate renting an apartment. You are making $2,000 monthly (net pay) and can afford the monthly premium of any of the three options below. The teacher will model how the slider on this tool works so you can determine the total value of the possessions you will most likely have in your apartment.

What is the likely total value of the possessions in your future apartment? (Note - this is the first step in selecting a renters insurance policy. If your total possessions are less than the deductible, renters insurance is not necessary)

SELECT the best renters insurance plan for you by bolding your selection. Remember, for every dollar you spend, it is a dollar you are not investing.

Renters Insurance Options Click here for an infographic providing an overview of each coverage type Click here for more non-price details about each plan
Option 1	Option 2	Option 3
Monthly Premium: $25	Monthly Premium: $20	Monthly Premium: $0
Deductible: $500	Deductible: $500	Deductible: $0
Coverage includes: - Personal Property Coverage - Family Liability Protection - Guest Medical Protection - Additional Living Expense Coverage	Coverage includes: - Personal Property Coverage - Family Liability Protection - Guest Medical Protection - Additional Living Expense Coverage	You choose not to purchase renters insurance
Reimbursement (Replacement Cost)	Actual Cash Value	None
Add on coverage: - Flood Insurance - Personal Umbrella Policy	Add on coverage: - None	None
Average Cost for Renters Insurance: $17; Click here for specifics

After everyone is done, we will move forward together as a class with this activity.