Most student loans have a six-month grace period, which means you wonât have to make payments until six months after you graduate, drop out or drop below half-time status. The grace period is meant to give you a chance to find a job and begin earning an income before youâre swamped with bills.
First Party Claims vs. Third Party Claims. There are two types of insurance claims: first party claims and third party claims. While a first party claim is one you file with your own insurance company, a third party claim is one you file with the insurance provider of another person or business.
1 Youâre waiting to file your claim. You should contact the claims department of your insurance company as soon as possible and find out how long you have to file a claim. If you donât file a claim within the allowable time, usually one year, you may end up footing the bill yourself. And waiting for spring to file your claim could be a costly mistake.