When approaching the age of 18, secondary school students continue their studies towards higher education. And there are many changes: a new school, new accommodation, a new car and very often a new insurance. But between comprehensive home insurance, car insurance and student insurance, it can sometimes be difficult to navigate. Let’s look at all the student insurance policies.
Student insurance: what is it?
Parents should take out school insurance for their secondary school, high school or college students. The aim is to cover their children against various needs that may arise during school life.
But when they go to university, this insurance changes its name: it is called student insurance. And it is no longer in the name of the parents, but in the name of the student.
The student’s civil liability
Student insurance is designed to cover your civil liability.
As a student, you will probably no longer be covered by your parents’ home insurance. However, if you continue to live with them during your studies, we recommend that you check the terms of the contract first. Some insurance companies exclude children over the age of 18, while others cover them.
However, if you are no longer insured, your liability may arise at any time. It is therefore essential that you take out student insurance. This gives you double protection
cover for damage caused to third parties (the insurance pays the injured party);
compensation for damages (physical or financial) suffered during your student life.
It should be noted that student insurance is not compulsory in itself. On the other hand, civil liability insurance is compulsory. In addition, a certificate of insurance is usually required when enrolling at university.
Additional insurance for students
Depending on the case, student insurance may provide additional coverage. For example
– Practising sport: this means that you will be compensated if you are injured while practising.
– Childcare: again, the insurance may cover you.
– Internships: in this case, civil liability insurance is also essential.
– Psychological support: especially for students who are upset.
– Capital: the idea is to help you continue your studies even if you have to repeat a year because of an accident or illness that prevents you from passing your exams.
Student insurance also complements social security coverage for medical expenses. It can cover some additional costs in the event of hospitalisation or supplement health insurance reimbursement. However, be careful not to confuse it with student mutual insurance, which only covers health care and not liability.
Other student insurance
In addition to university insurance, there are other policies that provide all the basic guarantees.
Do you have a dispute with your insurer?
House insurance is compulsory for all tenants. If you are studying at university, you will most likely need to rent a flat. As a tenant, you should therefore take out home insurance to protect yourself against the risks of renting.
What is covered?
There are different types of home insurance. However, to be well covered, your insurance should at least cover the following:
– Liability insurance: this is the legal minimum. It allows you to compensate victims in case of damage caused to neighbours or third parties. This is particularly common in the case of water damage.
– Property damage: includes water damage, fire, explosion, flood, natural disasters, theft and glass breakage. The aim is to cover damage to your home.
For better coverage, you can also choose multi-risk home insurance (MRH) with optional guarantees. Especially in case of theft of valuables or jewellery. However, you will have to pay a higher premium. This is not always compatible with your student budget.
Home insurance or student liability insurance?