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Avoid Student Insurance Scams

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Don't Fall Victim to Student Insurance Scams

A college student knows that with an on-the-go lifestyle, there are always chances for accidents to happen throughout any given day. Just walking or driving to class, leaving your apartment door unlocked or boarding a plane to another country could spell disaster. So the best way to safeguard against unavoidable accidents is to invest in several student insurance plans. You must be informed about scams linked to college student health insurance, travel insurance, car insurance, renter's insurance and international student health insurance, so we're here to provide with helpful tips.

Choose Your Insurance Wisely

The purpose of student insurance policies is to protect students against unwanted loss or damage to themselves and their belongings. There are many insurance agencies out there whose main goal is to help students choose a college insurance plan that is best suited to their financial situation. But despite the many honest insurance companies out there, there are even more fraudulent companies who hope to take away as much of your money without little or no help at all. That's why you have to find an honest and legal student insurance policy that will provide you with good coverage and peace of mind. Here are tips on how to avoid various types of student insurance scams.

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Tips To Avoid Student Insurance Fraud

College students come into contact with hundreds of other students and teachers every day, so it's important that they take care of their personal health. That's why college student medical insurance is an important type of insurance to get. Your personal health can affect both you and those around you, so you need to stay healthy and risk-free to others. But equally as important are travel, car, renter's and international insurance because they also put you in contact with hundreds of other people every day. You need to be prepared with student insurance just in case anything unexpected happens. So how do you know if the student insurance you are choosing is legit? Here are some tips you must follow:

  • Make sure you recognize the name of the company. Always read their pamphlets and research their web site in entirety to check for anything strange.
  • Never sign blank insurance claims forms. Always check to see that they have detailed explanations and information.
  • Do not give out your personal information, especially your social security number, until you are ready to make a purchase.
  • Check to see if the company is licensed. If it does not say anywhere on their documents if they are, then call the Insurance Commissioner's toll-free Consumer Hotline at 1(800) 562-6900 to find out.
  • Be suspicious if the student insurance is too cheap because it could be a way to get you to enroll, and then they might charge you expensive fees later.
  • What the company will charge you up front and how much you will have to pay out-of-pocket should never change unless you change your plan. Contact them directly if it is inconsistent.
  • Never give your credit card number to a representative over the phone. The company should send you appropriate paperwork in the mail.
  • Carefully review their explanation of benefits statement, and if it does not provide you with enough information, contact them.
  • Never do business with door-to-door or telephone salespeople. You should meet them in person and know that they are for real.
  • Be alert for bogus plans posted on fliers, in your email account
  • Don't sign up for 'extras' to your insurance policy that you know you'll never use. It could be the difference between a high and low cost.
  • Never sign anything with unreadable or too small print. If you can't read it, don't sign it.

There are many so-called insurance companies out there who are just waiting to get a student like you into their hands. That's why you must be prepared for fraudulent companies and the scams they will use to get your money. Part of maintaining your student budget and managing your money is to protect it from financial predators, so be prepared before they ever get to you.

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