The Cost of Water Damage

Insurance

KAHOOT

VERSION

1. Storms that used to occur once in a century, now take place ____________.

​

1. twice as often
2. half as often
3. three times as often
4. four times as often

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

• Storms that used to occur once in a century, now take place ____________.

​

• twice as often
• half as often
• three times as often
• four times as often

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

2. Which of the following is not covered by homeowners insurance?

1. Damages due to a fire
2. Damages due to flooding
3. A tree falling on the roof
4. Theft of items in your home

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

2. Which of the following is not covered by homeowners insurance?

• Damages due to a fire
• Damages due to flooding
• A tree falling on the roof
• Theft of items in your home

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

3. Who pays more in premiums for flood insurance?

​

1. People living in areas at no risk of flooding
2. People living in areas at low risk of flooding
3. People living in areas at moderate risk of flooding
4. People living in areas at high risk of flooding

​

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

3. Who pays more in premiums for flood insurance?

​

• People living in areas at no risk of flooding
• People living in areas at low risk of flooding
• People living in areas at moderate risk of flooding
• People living in areas at high risk of flooding

​

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

4. True or false? If you leave cash at home and it gets destroyed in a flood, having flood insurance covers the damage and returns the money to you.

1. True
2. False

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

4. True or false? If you leave cash at home and it gets destroyed in a flood, having flood insurance covers the damage and returns the money to you.

• True
• False

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

5. Why are insurance policies so difficult for the average person to read and understand?

1. Insurance companies want less people to sign up for their policies
2. Insurance companies don’t want people to read the policies
3. Insurance companies need to make sure these legal documents hold up in court
4. None of the above

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

5. Why are insurance policies so difficult for the average person to read and understand?

• Insurance companies want less people to sign up for their policies
• Insurance companies don’t want people to read the policies
• Insurance companies need to make sure these legal documents hold up in court
• None of the above

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

You’ve completed the exercise, now it’s time to learn

more about the current event:

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

Discussion Prompt:

Do you think it is fair that home and renters insurance do not include flood coverage? Why or why not?

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE

Extend Your Learning

Three Relevant Resources from NGPF:

• INTERACTIVE: Bummer! (Arcade)
• Intro to Insurance (Lesson)
• Other Types of Insurance (Lesson)

​

References:

• Floods are getting worse, and the number of people exposed is 10 times higher than

previously thought, study finds (CNN)

• For Many Americans Hit By Ida, Flood Damage Won’t Be Covered by Insurance (WSJ)
• How homeowners can financially prepare for the next hurricane or big storm heading

their way (CNBC)

• How to Easily Understand Your Insurance Contract (Investopedia)

​

THE COST OF WATER DAMAGE | OCTOBER 11, 2024 EDITION | NEXT GEN PERSONAL FINANCE