Do you think insurance (what it is, how it works, how to get and use it, why you need it) should be taught in US schools? I think it should. Along with personal finance of course. And cooking. Definitely cooking.

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It should be taught in insurance companies as well. I'm amazed by how many insurance "professionals" lack basic insurance knowledge.
Insurance has become an industry with too many butt-in-seats jobs that run on quantity metrics and call center principles. People aren't paid to think or learn about insurance. They're paid to churn and burn and that model hurts everyone, except maybe attorneys who have been able to take advantage.
When you move into financial institutions that offer insurance products, it's worse.

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Indeed…we are having the churn and burn thrust on us in the Subrogation realm, quality be damned. Much to the lament of this very well read and quality-focused claims professional. I have a bunch of state licenses. AIC, CSRP, no one seems to care about that, yet I’m the only one on my team with all these things.

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Insurance should absolutely be taught in school!

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More than half of the states require a personal finance class. I wonder what they teach in them.

likefunny

So waaaaay back when I was in high school we were taught financial literacy. Checking, savings accounts how to balance check books, budgeting, credit, insurance basics. Now, I have no idea what they do. We learned about auto insurance basics in drivers ed. I personally think it should be taught in high school, taught again in any college or trade education, when purchasing a car, and a home. I do not think that any electronics or apps should be used for the math portions to make sure people understand. I tell people always know your coverages, your deductible abd have that deductible for any policy you have saved in an account. Most people know they have to have insurance but not the why. Typically it's an after thought to meet the minimum cover they need. they don't know anything until they talk to me and then it's like ooooh so you have a 10k deductible .... for your half a million dollar home that you bought with a 25 year old roof last year with a 20 yr shingle that was installed 30 years ago 😩and I am the problem and it makes no sense to them. People get a home and have no idea they are suppose to keep their home up and it requires maintenance. They run it into the ground like a car with bald tires Or pay for home warranties they cover repairs, which is the cheapest part of the claim 😮‍💨but let me get off of my soap box

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My sibling just lost their home owners insurance due to ineligible maintenance. Now they have a long list of things they have to fix if they hope to get insured again.

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I think it would help. Too many people think insurance is a big ripoff and they stop there.

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Sure

Yes, all this should be taught, even if insurance, like many other things, is often a scam in what get may get vs what you pay. I’ve been in the industry for 20 yrs on the claims side mostly, and a little of the sales side.

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