A college education is a big investment — not only in terms of time and hard work, but also money. And like many investments in life, a college education is subject to certain risks — for example, illness, injury, or even loss of personal property.
But while you can't predict — or always prevent — such mishaps, you can take steps to protect your investment if these risks should become reality. That's where having the right kind of insurance for college can help.
What are some kinds of college insurance?
College insurance is a means of safeguarding your student's college education and related expenses — whether with regard to tuition, academic fees, personal property, or room and board costs. Depending on the type of coverage, college insurance can offer protection in the event of forced withdrawal due to covered medical disability, illness, or resulting death, or even damage to — or loss of — personal property.
Ways to protect your student
There are various types of college insurance to choose from, depending on your student's individual needs.
Tuition Insurance protects your student — and your monetary investments — if your student is ever unable to complete a semester due to a medical disability or mental health reason, while College Renters Insurance offers personal property and personal liability coverage. You also want to make sure student has adequate health insurance coverage — many schools offer Student Health Insurance, if your student can't be covered under your health plan. You'll also find various policy options and levels of protection within each category of coverage, ensuring your student has adequate protection if he or she should ever need it.
Is college insurance right for my student?
The unexpected can happen to anyone — so it's always worth taking those few extra steps to be prepared, just in case. Arranging for college insurance at the beginning of your student's college career can help provide protection from unexpected mishaps down the road — possibly making all the difference when it comes to your student achieving his or her educational goals.