Student Accident Insurance – Do You Really Need It?
Is student accident insurance worth it?
Do you know what your family’s expenses are in a year? Do you keep a budget of your costs? Maybe your new year’s resolution was to manage your family’s finances better? Well the good news is that if you haven’t already started thinking about an annual budget, there’s still plenty of time to. And although we know that student accident insurance might not be one of the first things you consider for your budget, it’s one cost we hope you seriously consider this year!
What is student accident insurance anyway?
Has your child ever had an accident? Were they seriously injured? Did they need medical treatment from a doctor, nurse or dentist? Or maybe they needed prescription drugs, crutches or a ride to the hospital by ambulance? These types of scenarios are terrible to think about, but unfortunately, they can and do become real for some Canadian families. Student accident insurance can protect your family finances against the unexpected expenses that you might have to pay if your child is injured.
What does student accident insurance offer?
It fills in the gaps
You may be thinking, “I don’t need this type of insurance. My government health care provides benefits.” or “My work plan has me covered”. In both situations, you might be only half-right! That’s because when it comes to government and employer’s plans, there are expenses that you are covered for, and many expenses that you are not covered for! Expenses that are not covered can include casts, crutches, tensor bandages and other medical supplies, physiotherapy, dental care, and ambulance fees. What’s more, even when you are covered for a specific expense, it’s not always for the full amount you were expecting! That’s where student accident insurance comes in.
A student accident insurance plan can help cover remaining costs you’re left with after your primary insurance coverage has been applied. And it can be especially valuable for parents who are without any type of primary coverage, like entrepreneurs and contract workers.
Provides better peace of mind
Arguably the biggest benefit of this insurance is that it offers parents better peace of mind. And for parents who already have enough to worry about when their child is injured, this insurance is one small thing to help them keep calm and carry on.
Low cost
This type of insurance is usually offered at a cost that a family can afford. For example, an insuremykids® student accident insurance plan costs from $13 to $33 per year. Even a minor accident can cost more than that, so the plan usually pays for itself. And when you consider that accident costs can rise into the hundreds to thousands of dollars, especially if out of province travel is involved, a $33 plan is well worth it!
Doesn’t eat into savings
With the rest of the year ahead of us, it’s hard to say what other financial twists and turns life will throw our way. Purchasing insurance is a good way to protect your savings, letting you build them up or spend them on more important things!
So what’s our verdict? For a small price, student accident insurance can help parents have far less to worry about when their child is in most need of their attention!
Insuremykids® offers families three affordable plans to choose from. The Platinum Plan is the most comprehensive plan and is offered for $33/year! All plans provide 24/7 coverage, whether kids are at school, at home, or even travelling outside of the country.