Caveat Academy course · Grades 9 to 12

Insurance and Risk Management

How to think about risk and buy insurance that protects you: expected loss and the four risk strategies, deductibles, coinsurance and limits, health plans and your rights, auto coverages and split limits, renters, homeowners, flood and umbrella policies, life and disability insurance, what to self-insure and how a business builds a risk matrix. Every lesson works the numbers with example policies, at your own pace, with a certificate at the end.

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$19one-time · every device you sign in on
Buy · $19

Included with the Caveat Academy pass and Whole-school licenses. Or get it in the High school electives library, $119 for 66 items.

6 modules · 18 lessonsabout 13 hours$19

Six modules, eighteen lessons

Each module ends with a practice set that tracks mastery, an explain-it-back prompt, a short written response and a module exam. The final opens when every module is proficient; passing it earns a certificate with a verification code.

  1. Module 1: Risk and how insurance works

    Choose among avoiding, reducing, retaining and transferring a risk, and compute expected losses and claim payments with deductibles and limits.

    • Risk and four ways to manage it
    • Pooling, premiums and expected loss
    • The language of insurance
    about 2.1 h

  2. Module 2: Health insurance

    Compute what a patient pays under deductibles, coinsurance and out-of-pocket maximums, and compare health plans and enrollment options.

    • How a health plan shares costs
    • Plan types and getting covered
    • Using coverage wisely and your rights
    about 2.1 h

  3. Module 3: Auto insurance

    Explain auto coverages and split liability limits, and analyze premium factors, claims and total-loss payouts.

    • Auto coverages and limits
    • What sets your premium
    • After an accident
    about 2.1 h

  4. Module 4: Renters and homeowners insurance

    Compare actual cash value and replacement cost, explain renters, homeowners, flood and umbrella coverage, and compute payouts.

    • Renters insurance
    • Homeowners insurance
    • Liability, umbrellas and protecting what you own
    about 2.1 h

  5. Module 5: Life, disability and other insurance

    Evaluate life, disability and other insurance products against a household's needs and decide what to self-insure.

    • Life insurance
    • Disability insurance
    • Other insurance and when to self-insure
    about 2.1 h

  6. Module 6: Making risk decisions

    Design an insurance and risk plan for a household or small business using expected value, deductible break-evens and a risk matrix.

    • Expected value and choosing a deductible
    • How businesses manage risk
    • Reading a policy and avoiding scams
    about 2.1 h

Try it before you start

This is how every lesson works: step through a worked example at your own pace, then answer a check and get the reason right away. Nothing here is saved; the course keeps your progress.

Module 3 · Auto coverages and limits

Worked example: when damages exceed limits

  1. Example limits: 50/100/25.

A lesson check from each module

The checks need JavaScript turned on. The course itself works the same way.

What you get

Academics · High School$19 · included with the Academy pass and Whole-school licenses

What you finish with
A finished course in insurance and risk: you can choose between avoiding, reducing, retaining and transferring a risk, compute expected losses and what a policy pays after deductibles and limits, work out a patient's share of a hospital bill and compare health plans, read split auto liability limits and see what you would owe above them, decide when to drop collision, compare actual cash value with replacement cost, explain why floods need their own policy and how an umbrella pays, size life and disability coverage, decide what to self-insure, find a deductible's break-even and build a risk matrix. Passing the final earns a Caveat certificate of completion.
Who it is for
Students in grades 9 to 12 about to drive, rent a first apartment or start a job with benefits, students in personal finance, business or economics courses, and families who want teenagers to understand the policies they will sign. It is general consumer education, not insurance or financial advice; every premium and limit is an example, and it recommends no insurer.
Format
An online self-paced course: 6 modules and 18 lessons with worked examples you reveal step by step, 144 practice and exam items (multiple choice, numeric, fill-in and ordering), an explain-it-back prompt and a rubric-checked short response in every module, module exams with one retake, a 24-question final and a certificate with a verification code. About 13 hours in all; works on a phone or a computer.
Access
$19 one-time, yours on every device you sign in on; the course opens once you are signed in with it. Included with the Caveat Academy pass and Whole-school licenses. Also in the High school electives library ($119) and the Academics Suite pass ($149), and 1 more bundle. Progress is saved in this browser on this device, and the certificate page lets you download your record.
Where it lives
The High School space in Caveat Academics.
Support
Access, a receipt, a refund or a correction to the course: team@caveatacademic.com.

How it works

  1. Open the course and start Module 1. Each lesson takes about 25 to 35 minutes; two or three a week finishes the course in about a semester.
  2. Answer the checks as you read. Every answer shows the reason, and a miss links you back to the lesson that covers it.
  3. Finish each module with its practice set and exam. Proficient on every module opens the final; 70 percent passes it.
  4. Print or download your certificate and record from the certificate page.

Start the course

Sources and accuracy

The lessons are original writing by Caveat Academic Services. Facts were checked against these free, open references, which are also good places to read further.

  1. National Association of Insurance Commissioners, consumer guides to auto, home, renters, life and health insurance: naic.org
  2. HealthCare.gov, glossary and guides to deductibles, coinsurance, out-of-pocket maximums, plan types and enrollment: healthcare.gov
  3. Centers for Medicare and Medicaid Services, the No Surprises Act and consumer protections: cms.gov/nosurprises
  4. FEMA, National Flood Insurance Program, FloodSmart: floodsmart.gov
  5. Social Security Administration, how disability benefits work: ssa.gov/disability
  6. Insurance Information Institute, consumer explainers on coverages and premiums: iii.org

Insurance and Risk Management is a self-paced course from Caveat Academic Services. It is general consumer education, not insurance, legal, tax or financial advice. Premiums, limits and dollar amounts are examples for teaching; insurance is regulated mostly by the states, so requirements and protections vary, and you should check current terms with your state insurance department before buying. It does not replace a school course and awards no credit. Support: team@caveatacademic.com.