The moment has arrived. Your baby is headed off to college. They’re all grown up and ready to venture into the world. They’ll be moving out for the first time. You know that it’s time for them to spread their wings. And you’ve got a lot on your mind, too, with your student heading off to college – dorm room decor, last-minute shopping, making sure that your student has all of their textbooks. The last thing you might want to think about is insurance, but it’s essential that your student is covered. We’ll give you some things to think about insurance-wise before your grown-up child starts their first semester and answer some of the questions you might have.
1. Will your home insurance cover your student’s belongings if they live on-campus?
That depends on your policy. Most policies will cover your students’ belongings if they’re in a dorm, so you might have coverage for disasters like theft and fire. You’ll need to do a review of your home insurance policy and think about the particulars of where your student will be living. Make sure that you know what is covered and what the limits of coverage will be for your students’ belongings.
2. What if my student lives off-campus? Will my home insurance still cover them?
If your student lives off campus in an apartment, your policy will most likely not cover their belongings. You may need to consider getting a renters’ policy to make sure your student has the coverage they need.
This will protect them from disasters like theft and fire, but it will also add liability coverage in case anyone gets hurt at their place. Renters insurance is not terribly expensive, so it might be worthwhile to look in to.
3. Do I need to keep my student on my auto policy?
Yes. Let’s be real – when your student comes home for winter and summer break, they’re going to want to borrow the car. And they need to be insured if they’re going to be cruising around town.
However, if your student goes to school over 100 miles away and does not take a car with them, you might qualify for a discount on your premiums. Discounts are always nice!
4. What if my student takes a car with them to college? How will that affect my auto insurance?
You’ll have to talk to your agent and tell them that your child is taking a car to school with them. It could impact your rates and the coverages that you need. It depends on your particular auto policy.
5. What about health insurance?
There are a few things to consider here. Your child can stay on your health insurance until they’re 26, so chances are you can keep them on your plan if that works for you. But if there aren’t in-network providers nearby, you might want to consider alternatives for getting health insurance for your student. It could get tricky if your student is going to college out-of-state, too.
Most universities offer their own health insurance plans for students, so that could be an option to explore. You can also think about getting an individual health insurance plan. There are also college student plans that are specifically for students. It all depends on the coverages that are offered, the cost, what you need, and the network of providers. Do some research on your options and figure out what makes the most sense for you.
Before your child goes off to college, make sure that they have the health insurance they need for if they get sick or hurt, especially if they’re going to be playing sports.
This is an exciting time in your child’s life, but it can also get stressful with all of the insurance details to consider. But just take it one day at a time. Check on your home insurance, auto insurance, and health insurance and figure out what’s best for your family, and you’ll breathe easier knowing that your student is covered while they’re at school. You’re about to be the proud parent of a college student, but they still need your help to make sure that they’re properly insured while they’re studying.
We can help you review your options for covering your student, and we can help you make sure that they have the coverage they need. All you have to do is give us a call or fill out our quote form – we’d be happy to answer any questions you might have and help you find some great rates on your insurance. Our goal is to help you protect your family.