Student insurance is essential

As a student, your job is to focus on class, assignments and exams. But it’s also important to have the right insurance to make sure you’re covered against unexpected surprises during your college and university years. Will you live on campus? Do you want coverage for things like your computer or your furniture? Are you going to study abroad? Have you thought about health insurance?

If you’re covered under your parents’ insurance, read the policy carefully to make sure you understand what’s included. The coverages may apply differently if you live on campus, in an apartment or outside the country.

Tenants insurance: Additional protection

Did you know that the person living in a rental unit is responsible for any damage to the unit and any injuries suffered by visitors or other renters?

Whether you live on campus or not, you need tenants insurance to protect you against loss, damage and liability risks. According to a survey by TD Insurance, 47% of Canadian renters under 35 don’t have renter’s insurance, and 32% think they are covered by the building owner’s insurance policy.

In reality, a building owner has very few legal obligations to renters for damage to their personal property. If you’ve got a tight budget, consider bundling your tenants insurance and car insurance for young drivers with the same provider—most offer a discount. Bonus: Building a good insurance record now could help you save money down the road.

Being healthy and staying that way: having a health insurance plan

Every year, thousands of Canadian students study abroad. And although they have a solid provincial health insurance plan at home, not all of the coverage applies once they leave the country.

If you plan on spending most of the year studying outside Canada, you’ll want to think about supplementary health insurance to cover things like emergency care, yearly checkups and preventive care. In fact, most universities require foreign students to have adequate medical insurance before they enroll.

Leaving the nest…safely!

Leaving home for the 1^st time is a very liberating experience. But it comes with the responsibility of taking care of your health and your belongings. Take the time to explore different options and choose insurance coverage that meets your needs. Knowing you’re protected against the unexpected will give you peace of mind so you can enjoy the year and take in the full experience!