Insurance Every College Student Should Have

Insurance seems to be something that only parents and families think about, but college students should too. They can also get sick or their belongings might get stolen. These uncertainties may become a financial burden to them on top of their student loans. Having the right insurance, however, can save them from further headaches and take care of their finances.

Health Insurance

At the very least students should have basic accident and sickness benefits, and they can add more coverage depending on their health status and financial ability. Some colleges offer health insurance plans, which students can take advantage of due to their affordability. If the student is below 26 years old, they can also remain on their parents’ policy but they have to make sure that their insurer’s authorized clinics are available around the campus.

Another reason why students should definitely obtain a health insurance is to follow the provisions of the Affordable Care Act. Without one, the student may face a penalty that may be more costly than the annual premium.

Property and Renters Insurance

Protect your expensive gadgets like your laptops and smartphones through a property or renters insurance. To distinguish between the two, property insurance covers the cash value of your items (this can depreciate over time), while renters insurance not only covers your belongings but also liability for visitors if they were hurt on your premises.

Car Insurance

Needless to say, car insurance is a requirement to drive in the United States. Students can either continue with their parents’ policy if the parents own the car. But if the student owns his own vehicle, then he should have his own policy. As regards the type of coverage to get, that again depends on the student’s financial ability. But it should be enough to protect the insurer from being sued in case of a catastrophic accident. Talk to an insurance agent and ask about the types of premiums they offer and they might have a special package for students.

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