Liability Insurance For Student Interns
Liability Insurance For Student Interns | Student Liability Insurance
All businesses need some kind of liability insurance to cover costs that may come to them due to lawsuits filed against them. Without it, some of these companies could end up going bankrupt. The price of a policy is worth the its weight in gold.
Does a company's insurance cover all employees?
Many general liability insurance covers full-time employees of the company in some way or another, but coverage might not include people who are part-time workers or interns.
Should I get student liability insurance?
If you are a student, you are doing many of the same tasks as the other employees. Your risk can end up being just as high. This is why it’s a good idea to look into some type of student liability insurance to cover you just in case something were to happen and you are somehow NOT covered by the company.
Do all interns need this type of policy?
No, not really. In fact, most probably don't need it and are covered under the insurance of the company. That being said, it could be helpful for those who are going to be working with patients and/or clients providing some type of service and/or consultation. If you are going to be working n the field of:
- Nursing
- Dentistry
- Accounting
- Law
- Medicine
- Teaching/Counselling
But I would think I would be covered by the company?
And you probably are, but accidents happen. This is true of experienced professionals, so if something should go wrong, you may end up being named in a lawsuit. Again, the employer may have insurance to cover it for you, but not necessarily. Or think about this: If you really screw up, the employer might file suit against you for negligence, in which case you certainly would want your own insurance policy.
This is not to scare you and is highly unlikely, but it is definitely something to think about.
What are some other benefits?
A major benefit of a student liability insurance policy is that you have the option to be represented by an attorney when necessary. The company hopefully will cover your legal fees, whether you win or lose. This can be worth is alone.
What do I do when I graduate?
When you get one of these policies, it is a great idea to look for a company that will switch you from a student policy to a regular one once you graduate.
Bottom Line....
Like getting any other policy, check with an insurance agent about what is the best type of coverage. You also want to consider the amount of coverage that is right for you. Remember, people don't plan on accidents happening, but you really do need to have a plan in place if they do. Get the insurance, learn your trade, and get the experience you need without possibly risking your financial future.
Liability Insurance For Student Interns | Student Liability Insurance
