Student Accident Insurance

What Factors to Consider When Buying Student Accident Insurance

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For international students, there are various requirements to be fulfilled by the host country. For instance, if you wish to drive in the country where you are planning to complete your further education, then you will be required to opt for student accident insurance. Most international students are already on a tight budget and when confronted with accident expenses, irrespective of whether the accident was a minor one or a major one, it usually throws their budget out of gear, especially if the student is held guilty for the accident.

When you are in a new country, you may be totally confused about choosing the right student accident insurance cover. There are certain considerations to watch out for before buying any particular insurance policy.

Does the cover provider penalize foreign students?

Before you buy the accident insurance policy from any provider, you need to make sure that it does not penalize foreign students. There are several insurance firms who will want a minimum driving experience of 3 years for qualifying for cheaper premium rates and maximum coverage. Given the fact that most of the foreign students have absolutely no or little experience when it comes to driving in the new country, they end up shelling more for minimum coverage. There will be a handful of insurance providers who consider international driving experience and provide deductibles and lower premium rates.

Student Accident Insurance

What is the liability?

Though the law mentions liability as a minimum requirement, it is always advised to know what additional amount you will be paying for comprehensive as well as collision insurance. Liability will cover the property or the passengers who are injured or damaged in the accident. On the other hand, the collision will be covering repairs done to the car if it has been crashed, even when you were not at fault for the accident. Comprehensive insurance is designed to help you in recovering financial losses if the car gets stolen or vandalized, by any other means except for an accident.

What is the vehicle’s age?

When you are scouting for car accident cover, you need to well consider the vehicle’s age. Older vehicles are really worth insuring for anything except that liability. It is better to replace such an old vehicle than spend a big amount on repairing it. On the other hand, it is advised to insure a new car since repairing it is cost-efficient rather than purchasing a new one.

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