Experiential Learning: Automobile Insurance

Educator facilitates an experience where students select and use automobile insurance.
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About this Micro-credential

Apply for a micro-credential before November 30th, 2017 for a $75 Amazon gift card!*

*Offer valid until 11/30/2017. To receive a gift card, participant must complete all portions of the micro-credential application including the optional survey. Gift cards will be awarded in the form of Amazon eGift Cards emailed to the account specified by the participant. Each participant can receive maximum one gift card. GFLEC reserves the right to withdraw this offer at any time.

Key Method

The educator utilizes experiential learning to expose students to the selection and use of automobile insurance.

Method Components

What is Experiential Learning?

Experiential learning supports students in applying their knowledge and conceptual understanding to real-world problems or situations where the instructor facilitates learning the topic through a learning loop in which students have an experience, observe and reflect on the experience, generalize principles of what was learned, and apply that information to make a better choice.

Components of an Experiential Learning Activity

The experiential learning method is not a traditional linear learning model, but rather the method is more of a loop in which students:

  • Experience the topic
  • Observe and reflect on the experience
  • Generalize principles of what was learned
  • Apply information to make a better a choice

Suggested Implementation:

  1. Students select automobile insurance from a number of options then have a simulated experience of a car accident using a distracted-driving commercial.
  2. Students reflect on what they would do and what the financial implications would be following a car accident they walked away from unharmed.
  3. Students determine if they chose the right insurance and knew what to do following an accident.
  4. Students reconsider the selected insurance and what to have on hand in the event of a car accident.

(Integrated into the applications of selecting then reselecting an insurance product are key terms such as deductible, premium, and various types of coverage.)

Research & Resources

Supporting Research

Resources

Submission Requirements

Submission Guidelines & Evaluation Criteria

The items in this following section detail what must be submitted for evaluation. To earn the micro-credential, you must receive a passing evaluation for Parts 1, 3 and 4, and a “Yes” for both artifacts submitted for Part 2.

Part 1. Overview Questions

(300-word limit):

  • How did you use background knowledge to set up this lesson about automobile insurance?

Part 2. Work Examples/Artifacts

Submit a video of of the lesson that shows introduction to the topic and exposure of students to the simulated experience.

Part 3. Student Reflection

Provide two written reflections from students who participated in the activity. Use the following questions as guidance (300-word limit):

  • Provide a reflection on what insurance you selected after experiencing the accident, why a different insurance product was selected [if it was], and what drivers should have on hand in the event of an accident.

Part 4. Teacher Reflection

Provide a reflection of what you learned, using the following questions as guidance (150-word limit):

  • How did this technique help you communicate this personal finance content to your students?
  • Which other personal finance topics can this teaching technique be used for in the classroom?

Part 5. Survey (Optional)

Please answer a brief survey about your experience teaching personal finance. Your responses will:

  • help us understand barriers personal finance teachers face;
  • and help us improve the resources being offered to personal finance educators
https://www.research.net/r/GFLEC4DP1

We appreciate your help.

Except where otherwise noted, this work is licensed under:
Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
http://creativecommons.org/licenses/by-nc-nd/4.0/

Requirements

Download to access the requirements and scoring guide for this micro-credential.
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