Attending School Away from Home?
Attending school away from home? Ensure your coverage makes the grade!
If you’re moving away from home to go to school, you’ve probably got a lot on your mind – Where will I live? Who will I hang out with? Who will do my laundry? But one thing you may not have considered is your insurance. As a student travelling away from home, your unique circumstances may impact your insurance, so read on to learn what you need to know.
If you are travelling to another province as a full-time student, you may be allowed to keep your regular driver’s license and insurance, subject to the guidelines of the province you’re going to. You will want to check with the licensing authorities both at home and where you’ll be attending school to make sure you understand the rules and regulations that might affect you. It’s also a good idea to register with MySGI to make sure that you can easily renew your plates online if you need to.
If you’re taking your car with you, you should consider a package policy to make sure you have the right coverage while you drive away from home. Auto insurance coverage may be significantly different out of province, and the basic liability limit your plates provide may not be enough if you’re facing a claim. You can also purchase some peace of mind with optional coverages like loss of use and road hazard glass, which might come in handy if you drive back and forth on the highway.
If you’re leaving your vehicle at home in storage on private property, you don’t need to keep plates on it. However, it’s a really good idea to get a policy, so that if it’s stolen or vandalized or catches fire, you’ll be covered. This is a great way to ensure you have coverage while saving some valuable money.
Although it probably seems like your textbooks are worth more than everything else you own, all the little things you have can add up quickly. If you’re a dependant, you may have coverage for your belongings on your parent’s home policy. Take a look at the wording, or better yet call your insurance advisor, and we can help you determine how much coverage you have and what kinds of things might not be covered.
If you aren’t a dependent, you’ll probably want to pick up a tenant policy. Your belongings won’t be covered by anyone else’s insurance- not the school if you live in residence, and not the landlord if you rent. Tenant insurance will also cover you if you only take some stuff with you and leave some at home – you just have to let your advisor know.
Even if you’re only attending school in another province, there are medical costs that you might incur that wouldn’t be covered under your provincial health plan – if you get hurt and need an ambulance, for instance. If your school is out of country, an accident could result in very high medical bills. Emergency medical coverage will ensure that you have the right coverage if you get hurt, as well as covering related expenses that you might incur if you have a medical emergency. If you are covered under a group benefits plan, you may have this coverage already. If not, it is available to purchase on a standalone basis.
It’s worth the time to make a quick call or visit with your advisor before you leave for school. We can help make sure that you’re properly insured and your focus can remain on school…and who will do your laundry after you leave home!