GradGuard Review: Renters & Tuition Insurance Tailored To Students

Faculty is usually the beginning of an adolescent’s unbiased monetary life. Meaning faculty college students want to determine insurance coverage wants particular to their stage of life. 

GradGuard is an organization that designs monetary merchandise for faculty college students. Its distinctive tuition insurance coverage reimbursement and renters insurance coverage insurance policies can assist cowl the most important monetary dangers for many faculty college students.

Began in 2009, GradGuard, a enterprise of Subsequent Era Insurance coverage, is an insurance coverage firm that’s designed to financially defend faculty college students throughout their faculty years. It provides a novel, low-deductible rental insurance coverage coverage that covers your stuff regardless of the place you’re residing. 

GradGuard additionally provides a low-cost tuition insurance coverage coverage that covers the price of tuition as much as a sure value. That is in case you’re unable to finish the semester resulting from sickness, harm, or a number of different lined issues resembling psychological well being challenges, Covid-19, or a persistent sickness aptitude.

What Does It Provide?

GradGuard works with over 400 colleges nationwide to offer renters and tuition reimbursement insurance coverage. It doesn’t provide different merchandise.

Tuition Reimbursement Insurance coverage for One Semester

Whenever you begin the quarter or semester, you must pay tuition no matter your skill to finish your programs. Your college might not reimburse your tuition when you depart college, or it could solely grant a partial reimbursement. 

GradGuard protects you financially if you must drop out of faculty for lined causes like sicknesses, sure psychological well being challenges, and some different lined causes. 

The schooling insurance coverage prices about $10 to $12 per $1,000 in tuition lined per semester. You could purchase the schooling coverage earlier than the semester begins.

Tuition Reimbursement Does Not Cowl Earlier Academic Debt

GradGuard’s tuition reimbursement insurance coverage solely covers the present semester. You probably have pupil mortgage debt from prior academic expertise, you continue to must repay that debt, even when you’re unable to return to high school resulting from your situation.

Restricted Reimbursement For Psychological Well being Withdrawals

GradGuard doesn’t provide full reimbursement for psychological health-related withdrawals. It’s necessary to know what portion of tuition might be lined when you’re involved.

Low Deductible Renters Insurance coverage

GradGuard’s renters insurance coverage primarily covers your private property together with: 

BicyclesGaming systemsTextbooksComputersOther faculty necessities

It has deductibles beginning at simply $100, and your stuff is roofed wherever on this planet. 

The renters insurance coverage even covers theft and vandalism in addition to burst pipes and flooding harm. That is extra sturdy protection in comparison with most insurance coverage insurance policies.

Renters Legal responsibility Insurance coverage

Along with overlaying private property, GradGuard covers private legal responsibility in case you unintentionally trigger harm at your house of residence. 

It’s necessary to know what’s lined as a result of you could be on the hook for paying for damages when you interact in sure reckless or careless behaviors.

To be lined by GradGuard, you have to pay premiums for each tuition and renters insurance coverage. Tuition Insurance coverage is paid as soon as, earlier than the beginning of the semester. 

For $10,000 in tuition protection, prices vary between $100 to $130, relying on the place you attend college, amongst many components.

Renters insurance coverage prices round $12 to $17 per thirty days for $7,500 value of protection. This is a little more costly than most renters insurance policies, however the deductible on this plan is simply $100. 

On high of that, the coverage covers private property all through the world, not simply in your dorm room.

How Do I Contact GradGuard? 

You’ll be able to name GradGuard’s customer support at 1-866-985-7598 from 10 a.m. to 7 p.m. Jap Time, Monday by way of Friday. 

You’ll be able to e mail GradGuard’s customer support at [email protected]. You can even use the web site to fill out a contact kind which can be how one can file a declare.

GradGuard’s renters insurance coverage is a little more costly than commonplace insurance policies. Nonetheless, faculty college students could also be riskier than different renters, and the coverage has a really low deductible. It particularly covers water and hearth harm in addition to theft and vandalism. 

Different renters insurance coverage insurance policies might have limits in protection. Usually, GradGuard’s tuition protection is probably the most complete coverage at a aggressive worth. 

In the event you’re solely involved concerning the renters insurance coverage coverage, you could wish to try Lemonade, which provides an app-based renters insurance coverage with a $0 deductible and prompt declare cost out there in some instances. The typical value of Lemonade renters insurance coverage is round $13 a month. 

For discount charges, there’s additionally Allstate’s renters insurance coverage, which is greatest in worth for these folks seeking to bundle this with their automotive insurance coverage. Charges begin as little as $4 per thirty days and so they have a web-based software that’s tremendous simple to make use of.

For firms that provide tuition insurance coverage there’s A.W.G. Dewar or Schooling Insurance coverage Plans. Simply make sure that to check costs and lined occasions. In the event you’re finding out overseas, schooling insurance policy may very well be the higher deal.

How Do I Get A Quote From GradGuard?

GradGuard works with greater than 400 colleges nationwide. You’ll be able to request a renters or tuition insurance coverage quote by way of the web site. You solely want to offer your college, your identify, and an e mail handle to get began. 

For renters insurance coverage, you additionally want to offer details about the place you’ll reside and the worth of your gadgets. GradGuard gives prompt quotes, so you possibly can resolve whether or not to join a coverage immediately from the positioning.

Is It Protected And Safe?

GradGuard has been insuring faculty college students since 2009 and has served over 1 million prospects. It’s not an enormous insurer, but it surely provides high quality merchandise and has traditionally paid out its claims.

From a safety perspective, GradGuard follows greatest practices, together with giving quotes with restricted private data. In the event you select to purchase from GradGuard, you will have to offer monetary data, however the website has applicable safety and encryption. 

You’ll be able to count on that your data will largely stay secure and safe. After all, there may be at all times a danger of identification theft at any time when your data is saved on-line.

As a university pupil, taking management of your funds contains ensuring you are correctly insured. One important kind of insurance coverage for all renters is renters insurance coverage. The owners coverage out of your mother and father might provide partial protection on your private belongings, however getting your individual renters insurance coverage is usually a smart move. 

If you have no protection but, getting renters insurance coverage is a should. GradGuard provides insurance policies which are particularly tailor-made for faculty college students, so it is value contemplating.

Deciding whether or not to take out tuition insurance coverage is usually a robust choice as a result of the worth of tuition insurance coverage isn’t as clear as different types of tuition. That mentioned, you by no means know when an surprising sickness or harm might power you to go away college abruptly. 

In the event you’re counting on pupil debt to cowl this semester’s tuition, it could be sensible to take out a tuition insurance coverage coverage. If you must withdraw from college, you will not be including to your pupil mortgage debt.