The Importance of Insurance for Your Student
As your baby birds begin to leave the nest, there are always a few things that us college parents are concerned about. Did I teach them enough? Can they really do their own laundry? Do they even know how to make rice? Take a breather, parents! You have done everything that you could to prepare your child to take on the real world, but there is something that you definitely want to put some more consideration into if you haven’t already; insurance.
You might be thinking; “Our homeowners insurance has us covered and our child when they are away at college, we don’t need to worry about that.” Sometimes that is the case, but most other times, not so much. What if your child’s laptop gets stolen while they are at the library? You file a claim with your homeowners insurance company and then, if they are able to cover it, you pay your large deductible, and then get the replacement laptop. Next time you need to pay your premium, you see that they have increased your rates just because of the one claim! That can definitely be more of a burden than a blessing.
Or what if college turns out to not be a good decision for your student and they need to withdraw from the school during the semester due to a physical or mental health condition? Will your tuition dollars be refunded back to you? The answer is usually not.
So what can be done? Is there a way to further protect your investment in higher education?
The answer is “Yes!”
GradGuard is an insurance agency that offers both renters insurance and tuition insurance for college students so you as a parent can have a little more peace of mind while your baby is away from home.
Why do you need renters insurance?
Circling back to homeowners insurance: 48% of parents report that they have not checked their homeowners insurance policy with regards to their college student. For about $.50 a day, you can have a renters insurance policy in place for your student while they are living on or off campus! Build your own policy with deductibles starting as low as $100. The best part? GradGuard does not require a credit score for purchase nor do they increase your rates if you need to file a claim, regardless of the outcome! Other perks include worldwide personal property coverage, protection for electronics and bicycles, as well as coverage against theft!
GradGuard also offers tuition insurance! Tuition insurance is on the rise in the higher-ed world as more and more parents are beginning to protect their investment in their students college education. Starting as low as $29.99 per semester, you can insure your tuition payment in case your student needs to withdraw from school due to a covered illness or injury. GradGuard has been a lifesaver to several college families who cannot afford to lose that kind of investment.
Do we have you convinced yet? Part of parenting is steering your child in the right direction but also providing them the proper tools to get to the destination on their own. GradGuard is there to soften the blow when your student takes a hard hit. This transitional part of life is difficult enough. Let them worry about homework rather than what could happen if their laptop got stolen. Learn more about GradGuard and what they offer online on their website today!