Renewal season is a great time to chat with your broker about your existing Student Accident Insurance coverage and any changes due to take effect in the upcoming school year. Here are 5 questions to ask your broker at renewal time.
1. Are there gaps in my current coverage?
Some Student Accident Insurance policies restrict coverage to athletic coverage only. That means if a student were injured during gym class, recess, or an after school program, they would not be covered by your student accident plan. Talk to your broker to understand what is or isn’t covered under your existing policy.
2. Why is my premium increasing?
If your premium increased over the last year, you have the right to know what is driving the cost. It could be additional student enrollment, the addition of an athletic team, or increased claims. Whatever the reason, your broker can help you figure out the best way forward.
3. What’s driving the cost of claims?
Are more insureds submitting claims? Was there a “shock” loss or very expensive claim that occurred? Your school is entitled to detailed loss information from your insurance carrier and they can also provide you with your average claims savings.
4. What cost containment measures can we put in place?
Your broker can help to navigate various cost containment measures available to your school. For instance, educating parents about in-network providers may help to minimize the cost of claims.
5. Would my policy respond in the event of an Active Shooter situation?
Due to the possibility of Active Shooter situations, it’s important to understand how and when your policy would respond. Accidental Death and Dismemberment, Accident Medical Expense, and Bereavement and Trauma Counseling benefits may help families cope during a difficult time by providing potentially valuable financial support.
Talk to your broker to learn more.
This is an Accident Only Policy.
This is a brief description of coverage provided under policy form series AH51051, underwritten by Berkley Life and Health Insurance Company (domiciled in Iowa – California Certificate of Authority #08527) and/or StarNet Insurance Company (domiciled in Iowa – California Certificate of Authority #6978) 2445 Kuser Road, Suite 201, Hamilton Square, NJ 08690 and is subject to the terms, conditions, limitations and exclusions of the policy. Please see the policy for complete details. Coverage terms, conditions, limitations and exclusions may vary or may not be available in all states. For complete details, please contact us at [email protected]
The insurance described in this document provides limited benefits. Limited benefit plans are insurance products with reduced benefits intended to supplement comprehensive health insurance plans. This insurance is not an alternative to comprehensive coverage. It does not provide major medical or comprehensive medical coverage and is not designed to replace major medical insurance. Further, this insurance is not minimum essential coverage as set forth under the Patient Protection and Affordable Care Act.
BAH SR 2020-36