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How Student Insurance Saves You Money

by

SelJones

With tuition creeping higher, students often look for easy ways to save money. The first thing to go is often insurance students figure that if there\’s a problem later, they\’ll deal with it then. It seems like it would be a good money-saving move to forego insurance premiums every month, but there\’s a major problem with this idea: what happens if you do experience a crisis?

The average UK graduate is going to be in debt for 11 years, and this number could be higher for those who attend expensive universities, take longer to finish their degree, or seek out more advanced degrees. It\’s a bad enough situation that every money-saving measure seems worth it, but before you ditch the insurance policy, think carefully. Here are some ways student insurance can save you money in the long run.

Car insurance is a must-have.

If you live away from home but commute to visit your parents, work, go to school, or get around town, you\’re using your car a lot. The cost of gas and repairs can add up, but car insurance isn\’t something you can skip. If you get caught driving without insurance, you\’ll get slapped with an immediate fine, and if you get into an accident, you could be on the hook for a lot more. There are some accidents that you didn\’t technically cause but you will still be held responsible for insurance-wise.

Contents insurance keeps you from buying again.

You may not have much in the way of possessions, but the average student has about 4,000 of possessions and this number will likely go up as you acquire more gadgets, a new laptop, or other going away to university supplies. Contents insurance keeps you from having to buy something twice once to get it, and once to replace it after it is accidentally damaged, stolen, or destroyed in a natural disaster. Having the insurance company give you the money you need to buy all your possessions again is critical, especially if a crisis happens during exams when you don\’t want to be shopping around for cheaper replacements that you can afford.

Item insurance outside the home is valuable.

If you take your laptop or mobile phone to class and it\’s stolen, lost, or damaged, some contents insurance policies will protect it. This also applies if you take something on a holiday and it is lost or stolen no more fretting about whether to bring your camera or not. This kind of insurance may also apply to musical instruments if you\’re in school for this kind of course or need to bring it around to play with your band. Trying to replace items that you lose with your own money can be a significant additional expense you weren\’t counting on.

Life insurance may apply to older students.

Not all students are in their best health and free of dependents. If you have a young family and a mortgage while you go to school (many graduate students are in this situation), life cover may be just what you need. It\’s relatively cheap if you\’re still younger or if you\’re in good health, and even if you can\’t get a whole-life policy for a low price, a term policy can make sure the rest of your family is protected if you never get a chance to finish your schooling.

Health insurance keeps you medically safe.

If you\’re an international student, you may also need to worry about health insurance. The NHS doesn\’t cover you automatically like it would a UK student, and the last thing you want to be spending money on when you\’re already broke is medical bills! Furthermore, if you miss a course because of an accident or illness, insurance can pay your course fees, and if you need someone to fly out to visit you if you get sick, it can pay for this, too. Finally, some insurance companies will even pay for you to fly home if you are hit with a major illness.

Though it\’s annoying to pay insurance premiums, the long-term effects of skipping out on buying insurance can be disastrous when you\’re already facing the prospect of debt for the next few years. Don\’t add any unnecessary debts and increase the stress you face as you enter the job market getting insurance will keep you from stressing about what could happen.

Sam Jones

the author believes that you can get some great deals at uSwitch.com for

student insurance.

Article Source:

ArticleRich.com