Protecting Them Comes First
What About Major Medical?
Student Accident coverage does not replace a parent’s major medical insurance and is secondary to other insurance plans, including a parent’s major medical coverage. It is designed to help pay items such as deductibles, co-pays, co-insurance and many other out-of-pocket expenses. With an estimated 40 million individuals in the U.S. without medical insurance, Student Accident is also a “must-have” for schools to protect those students as well.
What About My School’s General Liability?
“Administrators will need to review the GL policy for loopholes and benefits listed, along with medical maximums and exclusions.”
Schools are required to carry a General Liability (GL) policy that is the primary coverage for school accidents, whether the students have medical insurance or not. The problem with relying solely on a GL policy is that they are often designed with safeguards that minimize claims exposure for the insurance provider. In the event of an expensive or catastrophic injury, the GL policy could leave the school and families with hefty financial burdens. Administrators will need to review the GL policy for loopholes and benefits listed, along with medical maximums and exclusions. If the student has medical insurance, accident insurance will act as the secondary insurance to help with any out-of-pocket expenses, which can keep the GL policy premium from increasing. In most cases, schools that have Student Accident insurance may have the ability to save money in premium for the GL policy. Once the schools have chosen their plans and benefits, sending the policy into the General Liability carrier may provide additional benefits to the schools and their budgets, including the reduction of the GL premium.
General Liability Checklist
If a school has a General Liability policy, these points should be checked to determine the need for Student Accident policy. NOTE: Most GL policies have exclusions and/or limitations for most types of student injury. Filling out this GL Checklist will help you decide what type of student accident coverage is right for your school.
General Liability
Does it cover ALL student injuries? Is there an “endorsement” for sports injuries? Are the medical maximums capped? What are the maximums?
Policy Details
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