Does my college student need renter’s insurance…

Posted By: Amy Wise,
Renter's Insurance

… and other insurance questions for college students

Protecting Your Student’s Belongings

Many homeowners policies consider a dorm room as an extension of your home, so items your child keeps there may be covered to some extent. However, if your child has expensive electronic equipment or furniture, you may want to consider purchasing additional coverage such as a renter’s insurance policy.

If your child lives off campus, his or her possessions may not be covered by your homeowners policy. In that case, you may want to consider renter’s insurance, which costs as little as $15 per month. Renter’s insurance will cover possessions in your child’s off-campus apartment or house as well as provide liability coverage if anyone is injured in the residence.  Typically you can purchase Renter’s insurance from the same company where you purchase your Home Owner’s Insurance.

Keeping Your Student Healthy While on Campus

Many students can stay on their parents’ health plans if they are full-time students. However, restrictions vary greatly by state, and coverage could be even more complicated if your child is attending an out-of-state school.

If you find your child doesn’t have coverage under your plan, you have a few options. Most colleges have their own health plans, but some policies have high deductibles and low coverage maximums. A few don’t offer any coverage for conditions present before entering the school, so be sure to examine plans carefully. Otherwise, you may want to consider an individual policy for your child.

Changing Auto Coverage

If your child moves more than 100 miles away from your home to attend school and doesn’t keep a vehicle there, your auto insurance premiums could decrease by as much as 30 percent. Call us today at 301.417.0001, and see if you can save money while still maintaining coverage for your child when he or she is at home.

Insurance Questions to Ask Your Agent

Insurance policies vary from company to company.  It’s important to understand how your specific home and auto insurance policies will respond to your student’s needs away from home.  Here are some important questions to ask your agent when your child goes off to college:

  1. Will my child’s belongings be covered if he or she lives in off-campus housing?
  2. Do I have to change my auto policy if my child brings a car to school?
  3. If my child is a great student, are there any discounts offered by my insurance company?
  4. If my child is an athlete, will he or she be covered under my family health plan if he or she is injured during a practice or a game?
  5. If my child is an athlete, does the college carry an accident and health policy that would respond if my child is injured during a practice or a game?  Your agent probably won’t know the answer to this one, but it’s a good question to ask the college.

When you send your child off to college, there are so many things to consider and plan for.  If you haven’t looked at adjusting your insurance coverage, contact us today to learn more.  You could save money on your policies and protect your child from expensive incidents while away from home.