Insurance is meant to help prevent large financial burden or even ruin due to health, disability, and life or property loss. Here are a few types of insurance that students should consider purchasing. Note that there are more insurance policies that you will want to consider when you enter the workforce, such as disability, workers’ compensation, and long-term care insurance, but the below policies should give you the protection that you need now. Every person’s insurance needs are different, so talk with a financial advisor and/or do research to find out what the best options are for you.

Health Insurance
Cornell students are required to have a health insurance policy that meets Cornell’s standards. All Cornell students are automatically enrolled in the Student Health Plan unless a waiver is submitted and approved. Cornell also offers vision and dental plans, which are optional.

Consult with the Office of Student Health Benefits about health/dental/vision-related questions.

Renter’s Insurance
Renter’s insurance is an insurance plan designed to assist with property loss, accidents that happen in the space you are renting, and damage to other people’s property.  This insurance policy is useful to students living in both on-campus and off-campus housing. Learn more about why this policy is important here.

Policies are usually low in cost (under $200 per year), and give peace of mind in the event of flood, fire, or a break-in. If you or your parents have property insurance for a separate property, check with this company first to see if you can tack on renter’s insurance to the existing policy.

Auto Insurance
Auto insurance can protect you from large financial liabilities in the event of damage or bodily injury as a result of an accident. Depending on the state where you reside, you may be required to purchase auto insurance for any vehicles that you have. Read more about New York State’s insurance requirements.

Life Insurance
Students who have families may want to consider purchasing life insurance. Life insurance will financially protect your family should something happen to you. Research life insurance carefully before purchasing a policy to be sure that you are choosing the policy that is exactly what you need. See the articles in the Resources box on the left for a starting place.

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