Educate Yourself About Student Insurance

Thursday, October 2, 2014

College StudentsIf you are a college or university student or the parent of one, the move from home to a rental accommodation is a big change. Post-secondary students are literally stepping out of their comfort zones and into an unknown world filled with possibilities. That’s why it’s important to be prepared. 

Make student insurance a priority 
Alberta students need to prepare themselves for the unexpected. Insurance might not be top of mind when you’re focused on classes, exams and assignments - but it is an important consideration during your academic years. Will you be moving into student housing? Do you want to protect your valuables like a laptop or furniture? If you’re attending school overseas or in the U.S., have you thought about medical insurance?
Students who are covered under their parent’s plan should read the policy carefully to ensure there are no gaps in coverage. Insurance coverage can differ if a student is living on or off campus in Canada or outside the country.
Tenant insurance gives students added protection
Did you know that tenants are responsible for damage they may cause to the building they live in or harm that may befall others who live or visit there? 
Whether living on or off campus in Canada, students should have tenant insurance or renter’s insurance. Tenant insurance can protect students against losses, damages and other liability risks. 
A poll conducted by TD Insurance found that 47% of Canadian tenants under 35 do not have renter’s insurance and 32% believe that they are covered under their landlord’s insurance policy. In fact, landlords have few legal obligations to compensate tenants for damage to or loss of personal possessions. 
If cost is a concern, bundling with car insurance can help make it more affordable. Plus, maintaining a clean tenant insurance record early on can help lower insurance costs later in life. 
Get more coverage with a health insurance plan
Each year, thousands of Canadian students opt to study in another county. Although Albertans have excellent healthcare benefits from their provincial plan while at home, these benefits decrease once you leave the country. 
If a student is spending most of the year outside Canada while attending school, a supplementary health insurance plan can help cover emergencies, as well as things like annual checkups and preventative care. In fact, many universities require foreign students to have adequate health insurance in place as a condition of enrollment.
Alberta students studying abroad should check with the provincial health ministry for details. Visit http://www.health.alberta.ca/health-care-insurance-plan.html for more information on the Alberta Health Care Insurance Plan (AHCIP).
Moving out on your own provides a new sense of freedom but it also brings responsibilities for your health and your possessions. It’s important to explore your options and determine what kind of insurance coverage will suit you best. Knowing you’re covered in any unexpected event will help ensure your school year is set for success. 

Make student insurance a priority.  Alberta students need to prepare themselves for the unexpected. Insurance might not be top of mind when you’re focused on classes, exams and assignments - but it is an important consideration during your academic years. Will you be moving into student housing? Do you want to protect your valuables like a laptop or furniture? If you’re attending school overseas or in the U.S., have you thought about medical insurance?

 

 

Students who are covered under their parent’s plan should read the policy carefully to ensure there are no gaps in coverage. Insurance coverage can differ if a student is living on or off campus in Canada or outside the country.

Tenant insurance gives students added protection.  Did you know that tenants are responsible for damage they may cause to the building they live in or harm that may befall others who live or visit there? 

Whether living on or off campus in Canada, students should have tenant insurance or renter’s insurance. Tenant insurance can protect students against losses, damages and other liability risks. 

A poll conducted by TD Insurance found that 47% of Canadian tenants under 35 do not have renter’s insurance and 32% believe that they are covered under their landlord’s insurance policy. In fact, landlords have few legal obligations to compensate tenants for damage to or loss of personal possessions. 

If cost is a concern, bundling with car insurance can help make it more affordable. Plus, maintaining a clean tenant insurance record early on can help lower insurance costs later in life. 

Get more coverage with a health insurance plan.  Each year, thousands of Canadian students opt to study in another county. Although Albertans have excellent healthcare benefits from their provincial plan while at home, these benefits decrease once you leave the country. 

If a student is spending most of the year outside Canada while attending school, a supplementary health insurance plan can help cover emergencies, as well as things like annual checkups and preventative care. In fact, many universities require foreign students to have adequate health insurance in place as a condition of enrollment.

Alberta students studying abroad should check with the provincial health ministry for details. Visit http://www.health.alberta.ca/health-care-insurance-plan.html for more information on the Alberta Health Care Insurance Plan (AHCIP).

Moving out on your own provides a new sense of freedom but it also brings responsibilities for your health and your possessions. It’s important to explore your options and determine what kind of insurance coverage will suit you best. Knowing you’re covered in any unexpected event will help ensure your school year is set for success.