Q: Our School Head received your recent flier about student accident coverage and asked me to look into this insurance for our school. She believes that by covering our students, we’re meeting our due diligence as a school. I’m sorry, but I’m struggling with this rationale. Our students should be covered under their parent’s policies, right?
A: It’s funny that this question is the first I came across in my email. I just finished presenting on this topic for one of our partner’s—ACSI—this afternoon. Here’s a summary of what my Webinar included, framed through common protests I hear from schools.
“Our students should be covered under their parents' policies.”
Not all your parents, necessarily, have coverage. And even those who do could have high deductibles and co-pays such that claims may in fact not be completely covered. According to credit.com, 60% of families reporting medical debt and 75% of families who filed for bankruptcy because of medical debt have health insurance.
“We really wouldn’t use it.”
Not to sound salesy, but our program paid out over $500,000 in claims last year alone. Accidents happen when you least expect them. Being prepared can make all the difference in the world.
“My P&C agent said these claims are covered under our Liability policy.”
This may have been true in years past, but no longer. Liability policies used to cover these claims, but with changes in the law and in the insurance landscape, these claims are routinely excluded.
“It’s probably too expensive”
Coverage for students begins at $5.00 per student, per year! We suggest working it into your tuition—an increase that will hardly be felt.
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