Are you one of those individuals with a thought of 'who needs insurance'? Hence let us throw some light on types of student insurance and what they entail. Student insurance is often a mandatory requirement in the colleges and universities. There are many types of student insurances. These include student health insurance, car insurance, travel insurance, renters insurance, tuition insurance and student liability insurance.
Health insurance : Health insurance is critical and is required when you fall sick to take care of the hospital and medical bills. If you are under the age of 26, you can remain under the insurance plan of your parents. But if you are not, then it is mandatory for you to buy health insurance in order to be on the safer side. It may cost you around $500 per semester.
Renters insurance : Renters insurance protects you if your house gets burgled and you lose your valuable possessions. The typical premium of renters insurance costs around $160 a year and has the potential of saving your thousands if you are burgled.
Tuition insurance : It is hard to believe but it may happen that you may have to drop out of a semester midway due to a health or family issues. During such a crisis, it is tuition insurance which may rescue you from financial loss. For only $20 a month and providing coverage of nearly $10,000, it is worth a bargain.
Car insurance : Student car insurance covers your loss in case you meet with a car accident or there is a car theft. Premium of this kind of insurance is usually quite high for students. The damage done to a third party can be covered by a suitable liability insurance policy.
Travel insurance : Student travel insurance comes into the picture if you go abroad to study. It takes care of issues such as changes in schedule, loss of baggage, financial crisis and other issues related to foreign travelling.
Thus, insurance is something which saves you from unexpected financial losses due to unforeseen events and hence it is better to play safe.
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