When Do You Need Student Liability Insurance?
Businesses and organizations need liability insurance to cover any costs that may come to them due to lawsuits or claims filed against them . Without it, it only takes on claim with serious medical bills and other compensation and your company could go bankrupt! The price is well worth the peace of mind it brings.
Most general liability insurance covers employees of the company in some way or other, however, this might not include people who are not hired on as full time workers. Some examples may be student or interns. As a student you are doing many of the same tasks as the other employees, and your risk is just as high, maybe even higher, of having something go wrong. This is why itís a good idea to invest in student liability insurance.
Of course not every student needs this insurance. It is especially helpful for those who work with patients or clients providing some type of service or consultation. Some examples are nursing, dentistry, accounting and many other fields.
As a student worker you want to be sure you are using your knowledge properly and doing the best job you can, but still accidents happen. If this is true of experienced professionals it must also be true ofstudents . If something should go wrong, you may end up being named in a lawsuit for malpractice. In this case the employer may have insurance to cover it, but not necessarily. There are also cases when the employer files suit on the student for negligence, in which case you certainly want your own insurance policy.
One of the major benefits of a good student liability insurance policy is that you can be represented by an attorney when it is seen to be necessary by the company. The company may also cover your legal fees, whether you win or lose, which can be a great help to you.
When you look into a student liability insurance policy, it is a good idea to search for a company that will switch you from a student policy to a regular one once you have graduated. You want to make sure that you have a good amount of coverage, taking into consideration statistics and risk levels that relate to your situation
Consulting with an insurance agent about what is the best type and amount of coverage for you is important to make sure you are in the best possible position. Nobody ever plans on accidents occurring, but you do need to have a plan of action in case they should. With a student liability insurance you can learn your trade and get the experience you need without the paralyzing fear that you may make a mistake that will cost you dearly.
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