OIP News - College and University Students and Insurance
Autumn is in the air! With thousands of college and university students returning to school, now is a great opportunity to review coverage specific to the needs of your post-secondary student.
BUYING A CAR FOR A STUDENT’S USE - 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? While your college and/or university student’s belongings are protected, this coverage is limited. For peace of mind of comprehensive coverage, consider investing in tenant insurance. Coverage provides for:
- Personal liability for accidental damage to a neighbour's property or if a visitor to the home is injured.
- Upgrades done and paid for by the insured in the unit.
- Comprehensive coverage on personal belongings – computers, jewellery, furniture, entertainment equipment, and other valuables.
GROUP BENEFITS
Employee group benefit eligibility requirements for students attending school away from home vary by plan. In general, be aware that:
- Confirmation of full time attendance may be required by the insurer
- Most coverage for dependants terminates at age 21 or at age 25 if a full time student
Want to Know More?
Call us toll free 1.888.681.2862 or email ovma@csib.org The OIP is administered by Cornerstone Insurance Brokers, Ltd.