GradGuard Insurance Review: Pros, Cons and Alternatives

GradGuard is one of the leading providers of tuition and student housing insurance in the United States.

Studying is often the beginning of a young person’s independent financial life. That means students need to figure out insurance needs specific to their stage of life.

GradGuard is a company that designs financial products for students. Unique Tuition Reimbursement Insurance and University Renters Insurance are designed to help cover the biggest financial risks for most students.

Started in 2009, GradGuard, a company of Next generation insuranceis an insurance company designed to protect students financially during their college years. It offers unique, low-deductible rental insurance that covers your belongings no matter where you live.

GradGuard also offers low-cost tuition insurance that covers the cost of tuition up to a certain amount. This is in case you are unable to complete the semester due to illness, injury, or various other covered issues, such as mental health issues or a chronic illness.

What does it offer?

GradGuard works with nearly 500 schools nationwide to provide renters and tuition reimbursement insurance. It does not offer any other products.

Tuition reimbursement insurance for one semester

When you start the quarter or semester, you will be required to pay tuition regardless of your ability to complete your courses. Your school may not reimburse your tuition if you leave school, or may only provide partial reimbursement.

GradGuard protects you financially if you have to leave school for covered reasons such as illness, certain mental health conditions and a few other covered reasons.

Tuition insurance costs approximately $120 to $220 per $10,000 of tuition covered per semester. You must purchase the tuition policy before the semester starts. There is a maximum coverage of $50,000 per term.

Tuition reimbursement does not cover previous education debt

GradGuard’s tuition reimbursement insurance only covers the current semester. If you have student debt due to previous educational experience, you will still need to repay that debt even if your condition prevents you from returning to school.

Limited reimbursement for mental health admissions

GradGuard offers full reimbursement for mental health admissions at partner schools. If you are concerned, it is important to know what portion of the tuition fee will be reimbursed.

Low deductible renters insurance

GradGuard renters insurance primarily covers your personal property, including:

• Misuse
• Game systems
• Textbooks
• Computers
• Other college supplies

It has a deductible starting at just $100, and your stuff is covered anywhere in the world.

Renters insurance even covers theft and vandalism, as well as burst pipes and flood damage. This is more robust coverage compared to most insurance policies.

Tenants liability insurance

In addition to personal property coverage, GradGuard also covers personal liability in case you unintentionally cause damage in your place of residence.

It’s important to understand what’s covered because you may have to pay damages if you engage in certain reckless or careless behavior.

To be covered by GradGuard, you must pay premiums for both tuition and renters insurance. Tuition insurance is paid once, before the start of the semester.

For $10,000 in tuition coverage, costs range between $120 and $220 depending on where you go to school, among many factors.

Renters insurance costs about $9 to $17 per month for $7,500 of coverage. This is a little more expensive than most renter’s policies, but the deductible on this plan is only $100.

Plus, the policy covers personal belongings all over the world, not just in your student room.

How do I contact GradGuard?

You can call GradGuard Customer Service at 1-866-985-7598 from 10am to 7pm Eastern Time, Monday through Friday.

You can email GradGuard customer service at [email protected]. You can also use the website to make a contact form You can also submit a claim this way.

GradGuard renters insurance is slightly more expensive than standard policies. However, students can be riskier than other renters, and the policy has a very low deductible. It mainly covers water and fire damage, but also theft and vandalism.

Other renters insurance policies may have limitations in coverage. Overall, GradGuard’s tuition coverage is the most comprehensive policy at a competitive price.

If you’re just concerned about renters insurance, you might want to check out Lemonade, which offers app-based renters insurance with a $0 deductible and instant claim payment in some cases. The average costs of Lemonade renters insurance is about $13 per month.

For bargain prices, there’s also Allstate’s renters insurance, which is the best value-wise for people who want to bundle it with their car insurance. Rates start from $4 per month and they have an online application that is super easy to use.

For companies that offer tuition insurance, there is AWG Dewar (available only at participating schools) or Education Insurance Plans (primary and secondary education tuition insurance only). Be sure to compare prices and events covered. If you’re studying abroad, education insurance can be a better deal.

How do I get a quote from GradGuard?

GradGuard works with nearly 500 schools across the country. You can request a quote for renters or tuition fee insurance via the website. All you need to do is provide your school, your name, and an email address to get started.

Renters insurance also requires you to provide information about where you will live and the value of your belongings. GradGuard offers instant quotes, so you can decide whether to sign up for a policy straight from the site.

Is it safe?

GradGuard has been insuring students since 2009 and has served more than 1 million customers. It is not a large insurer, but offers quality products and has historically paid out its claims.

From a security perspective, GradGuard follows best practices, including providing quotes with limited personal information. If you choose to purchase from GradGuard, you will be required to provide financial information, but the site has proper security and encryption.

You can expect your information to remain largely secure. Of course, there is always a risk of identity theft when your information is stored online.

As a student, you must also ensure that you are properly insured when managing your finances. An essential type of insurance for all renters is renters insurance. Your parents’ homeowners policy may provide partial coverage for your personal belongings, but getting your own renters insurance can be a smart decision.

If you do not yet have coverage, taking out home contents insurance is a must. GradGuard offers policies specifically tailored to students, so it’s worth considering.

Deciding whether to purchase tuition insurance can be a difficult decision because the value of tuition insurance is not as clear as other forms of tuition insurance. That said, you never know when an unexpected illness or injury might force you to abruptly leave school.

If you are relying on student debt to pay this semester’s tuition, it may be wise to purchase tuition insurance. If you have to withdraw from school, your student debt will not increase.