GradGuard Tuition Insurance can reimburse certain housing costs if a student has to withdraw for a covered reason during a covered term. What's protected may depend on whether the student lives on-campus or off-campus.
On-campus housing
On-campus housing protection can include expenses for school-provided housing incurred during the covered term, as shown on the insured student's school invoice.
This typically includes room and board charges billed directly by the school that are not refunded after withdrawal.
Not included: Security deposits.
Off-campus housing
For students residing off-campus, protection is intended to assist with the early termination fees incurred when moving out of housing or canceling utility contracts mid-term due to a covered withdrawal.
Rather than covering ongoing monthly rent, this benefit focuses specifically on the financial penalties associated with breaking a lease during the covered period.
Not covered: Security deposits, ongoing rent payments beyond the termination fee, or costs for periods outside the covered term.
An important note on coverage periods
Your tuition insurance plan may apply to housing costs for the term of the plan only — not for the full length of a lease.
For example: if you have a 9-month lease running September through May, and you purchase a single-term plan covering September through December, only housing costs associated with that fall term may be eligible for reimbursement. Expenses incurred January through May would not be covered under that plan.
If you want to protect housing costs across multiple terms, a multi-term plan could be the right approach.
What about security deposits?
Security deposits are not covered under tuition insurance, whether for on-campus or off-campus housing. Generally, eligible expenses are limited to the non-refundable costs you're actually out-of-pocket for during the covered term.
Terms, conditions, and exclusions (including for pre-existing conditions) apply. Plans only available to U.S. residents and may not be available in all jurisdictions. Insurance benefits are underwritten by Jefferson Insurance Company. GradGuard, a service of Next Generation Insurance Group, LLC (NGI), is the licensed agent for all insurance programs. Plans include insurance benefits and assistance services. Non-insurance benefits/services, and claims administration, are provided by AGA Service Company.