BUS 246 Personal Insurance • 5 Cr.
Designed for those interested in personal insurance needs or majoring in business. Covers personal insurance and financial planning. Includes automobile, homeowners, fire, flood, earthquake, ocean marine, life, health and other personal property and liability insurance. Prepares students for the Certification in General Insurance through the American Institute for CPCU/Insurance Institute of America. Prerequisite: BUS 141 or equivalent experience recommended.
After completing this class, students should be able to:
- Discuss loss exposures, personal risk insurance, and types of personal insurance
- Explain problems associated with insurance, such as no-fault insurance, high-risk drivers, compensation of victims, regulation and rating of automobile insurance
- Define parts of automobile coverage, i.e. Liability, Medical Payments, Uninsured Motorists, Coverage for Damage to Automobiles, and Personal Automobile Policy Conditions
- Evaluate Homeowners Insurance as it relates to the policies – variations, endorsements, and ratings
- Investigate residential insurance concerning policies that include disasters such as earthquakes, floods, fires, and other similar events
- Identify other catastrophes that include liability for events such as marine floaters, watercraft policies, and umbrella liability insurance
- Explain the need for life insurance