What you need to know about your college student's insurance coverage-
If you have a child who is getting ready to head off to college, we know this is a busy time for both you and your college student. With so much to help pack, classes to prepare for, and last minute life lessons to teach them (like how to do their laundry), one thing that you can not forget is to make sure your child is fully insured no matter how close or far away they are.
Here are a few basics that you should know about how your current insurance policies will work once your child leaves home. If you have any additional questions feel free to give us a call.
Your homeowners insurance may cover your child while they are away at school, there may however be a few exceptions :
If your child lives on campus, your homeowners insurance policy will cover their belongings up to 10% of your Coverage C limit (contents coverage) or $1000, whichever is greater. The loss must be a covered loss and is still subject to the policy deductible.
Make sure to find out whether or not items like laptops will be excluded from your coverage. If so, you should consider adding additional coverages for things like electronics, and other items that may be costly to replace.
If your child will be living off-campus, your homeowners insurance will no longer cover them. You should definitely consider a renters insurance policy, which will cover their personal belongings while also giving them liability coverage.
It is recommended that you leave your child on your car insurance policy even if they aren’t taking a car to college. This will protect them if they come home on vacation or decide to drive someone else's vehicle.
In general, your child should still be covered under your car insurance policy, as long as your address is their primary address when they are not at home.
If your child does take a car to school with them, be sure to inform us of the change in garaging address. If your child is going to college in a different state, you may need to change the limits of your policy if that state has different required minimums.
If at any time your child buys their own car and has the title listed under their own name, they will need to purchase their own insurance policy.
As always, when calling to review your insurance policies to make sure everyone is covered, don't forget to ask about discounts . Safe Driver and Good Student, would both be great discounts to ask about. We wish all college students and their parents good luck and a successful year! And don't forget to call your Mom ;)