What Is the Purpose of Higher Education Insurance?

Higher education insurance is a unique type of insurance designed specifically for institutions of higher learning. It can cover public schools, private and charter schools, and schools for those with special needs. Coverage generally includes options for generally liability, abuse and molestation, property, educator legal liability, and more.


How Lawsuits Harm Schools


The main purpose of higher education insurance is to protect schools from becoming liable for legal and financial repercussions due to situations that occur on their school’s property.  For example, if a student brought a lawsuit before a school stating that they were expelled for discriminatory reasons and not due to a violation of the student code of conduct, the school would be liable to pay for damages and the costs of legal assistance if they did not have insurance.


Lawsuits made against an educational institution can not only harm them financially, but also hurt their reputation as a beneficial place to attend school.


Calculating Risk


Just like with life, auto, and homeowner’s insurance, the insurance premiums schools are required to pay are based upon risk. This amount is generally calculated using a culmination of several different factors which may include the school’s location, how many students attend, what safeguards are in place for students, and more. Educational institutions that do not already have an insurance policy for their school should make it a priority to obtain coverage to protect themselves from risk.


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