Class: Senior Secondary School 2 (SS2 / SSS2)
Term: First Term
Week: 3
Age: 16 years
Duration: 45 minutes
Subject: Insurance
Curriculum Theme: Risk Management and Insurance
Previous Lesson: Motor Insurance: Scope and ECOWAS Brown Card.
Topic: Insurance products: Fire Insurance
Subject Matter: Meaning of fire insurance (insurance cover against loss or damage caused by fire), standard fire policy cover (property covered), perils covered, who buy fire insurance, special peril

Specific Objectives

By the end of the lesson, pupils should be able to:

Cognitive Domain:

Define fire insurance.
Identify properties covered under a standard fire policy.
List the perils covered under a standard fire policy.
Explain what special perils are and give examples.

Affective Domain:

Appreciate the importance of fire insurance in protecting assets.
Show willingness to learn more about different insurance products.

Psychomotor Domain:

Outline categories of individuals and entities that buy fire insurance.
Categorize different types of perils covered by fire insurance.

Discuss the role of fire insurance in community and economic stability.
Collaborate with peers to identify potential fire risks.

Reference Materials

The following resources were used in planning this lesson:

Senior Secondary Schools Education Curriculum
State Unified Scheme of Work
Oyebola, A. A. (2018). Comprehensive Insurance for Senior Secondary Schools. Ibadan: University Press PLC.
https://www.naicom.gov.ng/
https://www.investopedia.com/terms/f/fire-insurance.asp

Instructional Materials

The teacher will teach this lesson with the aid of:

A chart showing different types of insurance products.
Whiteboard and markers.
Relevant textbooks on insurance.

Rationale for the Lesson

This lesson helps pupils understand how fire insurance protects individuals and businesses from financial losses due to fire. It enables them to identify the scope of cover and the importance of this insurance in managing risks.

Prerequisite/Previous Knowledge

Pupils have a basic understanding of insurance concepts such as risk, premium, and policy from previous lessons.

Lesson Content/Board Summary

Fire Insurance

Meaning of Fire Insurance

Fire insurance is a type of insurance policy that provides coverage for property against loss or damage caused by fire. It also covers damages resulting from other specified perils that may be included in the policy.

Properties Covered Under a Standard Fire Policy

A standard fire policy typically covers various types of property, including:

Buildings: The structure of the property, including its foundations, walls, roofs, and fixtures.
Contents: Items inside the building such as furniture, household goods, machinery, plant, and stock.
Goods in Trade: Raw materials, work-in-progress, and finished goods for businesses.
Other Structures: Garages, outbuildings, and fences belonging to the property.

Perils Covered Under a Standard Fire Policy

The standard fire policy covers losses directly caused by:

Fire: Actual burning or ignition of property.
Lightning: Damage caused by natural electrical discharge.
Explosion: Explosion of domestic boilers or gas used for lighting or heating purposes in the building.
Aircraft Damage: Damage caused by aircraft or other aerial devices or articles dropped therefrom.

Special Perils

Special perils are additional risks that are not automatically covered under a standard fire policy but can be added by paying an extra premium. These include:

Riot, Strike, and Malicious Damage (RSMD): Damage caused by civil disturbances or intentional harm.
Earthquake: Damage caused by seismic activity.
Flood: Damage caused by the inundation of water from natural sources.
Storm and Tempest: Damage caused by severe weather conditions like strong winds and heavy rain.
Bursting or Overflowing of Water Tanks, Apparatus, or Pipes: Damage caused by water from these sources.
Impact Damage: Damage caused by impact from road vehicles, animals, or falling trees.

Who Needs Fire Insurance?

Fire insurance is essential for anyone who owns or has a financial interest in property. This includes:

Property Owners: Individuals or organizations who own buildings.
Landlords: Owners of rented properties.
Tenants: To cover their personal belongings or business stock within a rented property.
Business Owners/Manufacturers: To protect their business premises, machinery, equipment, and inventory.
Mortgage Lenders: Often require borrowers to have fire insurance to protect their investment.

Teaching Methods/Instructional Techniques

Discussion, Lecture, Demonstration, Question and Answer, Visual Aids

Instructional Procedures

Step 1: Introduction

Time: 5 minutes
Teaching Skill: Set Induction
Teacher’s Activity: The teacher greets the pupils and asks them to recall what they learned about basic insurance concepts in the previous lesson. The teacher then introduces the topic “Fire Insurance” by asking pupils about the dangers of fire.
Pupils’ Activity: Pupils respond to the teacher’s questions and share their understanding of fire hazards.
Learning Point: Pupils connect previous knowledge to the new topic and understand the relevance of fire insurance.

Step 2: Meaning of Fire Insurance

Time: 8 minutes
Teaching Skill: Explanation/Definition
Teacher’s Activity: The teacher explains the meaning of fire insurance, emphasizing that it covers loss or damage to property caused by fire and other specified perils. The teacher writes the definition on the board.
Pupils’ Activity: Pupils listen attentively, ask questions for clarification, and copy the definition into their notebooks.
Learning Point: Pupils understand and can define fire insurance.

Step 3: Properties Covered Under a Standard Fire Policy

Time: 7 minutes
Teaching Skill: Listing/Illustration
Teacher’s Activity: The teacher explains and lists the different types of properties covered under a standard fire policy, such as buildings, contents, and goods in trade, using real-life examples.
Pupils’ Activity: Pupils identify and list the properties covered, relating them to examples provided.
Learning Point: Pupils can identify various properties that can be insured against fire.

Step 4: Perils Covered Under a Standard Fire Policy

Time: 7 minutes
Teaching Skill: Explanation/Categorization
Teacher’s Activity: The teacher details the specific perils covered by a standard fire policy, including fire, lightning, explosion, and aircraft damage. The teacher clarifies each peril with brief explanations.
Pupils’ Activity: Pupils listen and note down the perils covered, asking questions where necessary.
Learning Point: Pupils understand the basic perils covered by fire insurance.

Step 5: Special Perils

Time: 7 minutes
Teaching Skill: Elaboration/Examples
Teacher’s Activity: The teacher explains what special perils are and provides examples such as riot, strike, malicious damage, flood, and earthquake, highlighting that these require additional coverage.
Pupils’ Activity: Pupils identify and list examples of special perils, understanding they are optional additions.
Learning Point: Pupils distinguish between standard and special perils in fire insurance.

Step 6: Who Needs Fire Insurance?

Time: 6 minutes
Teaching Skill: Discussion/Application
Teacher’s Activity: The teacher leads a discussion on who typically buys fire insurance, including property owners, tenants, and business owners, explaining their reasons.
Pupils’ Activity: Pupils contribute to the discussion and state different categories of people and entities that need fire insurance.
Learning Point: Pupils understand the practical application of fire insurance for different stakeholders.

Step 7: Evaluation/Review

Time: 5 minutes
Teaching Skill: Questioning/Assessment
Teacher’s Activity: The teacher evaluates the learning by asking the following questions:

Define fire insurance.
List three properties that can be covered under a standard fire policy.
Mention two perils covered under a standard fire policy.
Give two examples of special perils in fire insurance.
State two categories of people who typically buy fire insurance.

Pupils’ Activity: Pupils answer orally and in writing.
Learning Point: Pupils demonstrate understanding of the lesson.

Step 8: Conclusion

Time: 2 minutes
Teaching Skill: Summarization
Teacher’s Activity: The teacher summarizes the key points of the lesson, reiterating the importance of fire insurance in protecting against financial losses due to fire and associated perils. The teacher assigns homework.
Pupils’ Activity: Pupils listen to the summary and copy down the homework.
Learning Point: Pupils consolidate their learning and prepare for further study.

Lesson Keywords

Fire Insurance – A type of insurance that covers loss or damage caused by fire.
Perils – The causes of loss or damage, such as fire, lightning, or explosion.
Standard Fire Policy – A basic insurance contract covering specific fire-related risks.
Special Perils – Additional risks like flood, earthquake, or riot that can be added to a policy.
Property – Buildings, contents, or goods insured under a policy.

Differentiation

For pupils who grasp concepts quickly, the teacher can provide case studies involving fire insurance claims for analysis. For pupils needing extra support, the teacher will use more visual aids and simplified explanations, ensuring they can define key terms and list basic covered items.

Note for teachers using this lesson plan

Teachers should ensure to use relevant local examples for properties and perils where possible to make the lesson more relatable. Encourage pupils to share any personal experiences or knowledge they have about fire incidents or insurance claims to foster engagement. Emphasize the practical importance of fire insurance for individuals and businesses in Nigeria.