Students and Insurance – reviewing their needs
Autumn is in the air! Cooler temperatures means back to school, and it’s time to review coverage specific to the needs of your college/university student.
BUYING A CAR FOR A STUDENT’S USE – Consider those factors that may affect the insurance premium:
- The make and model of the vehicle
- Where one lives and drives the car
- Age
- Driving and insurance claim record
- Driving experience
- Pleasure, commuting or everyday business use
- Coverage and deductible selected
RENTING? Tenant insurance is a great idea
Coverage includes for:
- Upgrades done and paid for by the insured in the unit
- Personal belongings – computers, jewellery, art, furniture, entertainment equipment, and other valuables
- Personal liability for accidental damage to a neighbour’s property or if a visitor to the home is injured.
GROUP BENEFITS
Employee group benefit eligibility requirements for students attending school away from home vary by plan. In general, be aware that:
- Confirmation of attendance may be required by the insurer
- Most coverage for students terminates at age 25 or at the end of the school year in which you turn 25
Want to know more? Contact Cornerstone Insurance Brokers at 1 888 768 8001 or email info@csib.org.
