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Coverage for Your College Student

By August 12, 2019December 16th, 2019Insurance

Insurance can be overwhelming.  If you have a student going off to college this year, it can be even more so.

It’s important to know what coverage your child needs before school starts.

Here are some insurance policy choices you’ll need to be well versed in:

  • Car Insurance
  • Homeowners or Renters Insurance
  • Life Insurance
  • Health Insurance
  • Umbrella Insurance

School will be starting soon, and there are extra considerations that need to be made to make sure they are prepared and covered while at school.

First up, Health Insurance!

Health Insurance

If your child is covered by your insurance, be sure that wherever they attend has providers that are in-network on your insurance plan or that the college town is within your plan’s provider network.

Should your child not be covered by your insurance, there are a number of student plans on the market that provide good coverage.  Be sure that you and your college student understand the limits of that coverage.

Life Insurance

With a child in college, you want to make sure that they are able to complete their studies should anything happen to you.

If you are paying for your child’s education, consider a term life insurance policy for yourself.  Be sure the policy provides enough coverage to pay for your child’s schooling.

If your child has student loans in their name, look into a term life policy for them.  In the event something happens to them, the balance of their education costs can be paid.

Renters Insurance

Right about now, you’re probably picking up supplies all your young learners need for the upcoming school year.  If any of them are college students, don’t forget to look into extra coverage while they are at school.

For example, does your college student need renters insurance?  If they are in a college dorm, their possessions should be covered under your home insurance policy.  Be sure to notify your insurance company so they can update the policy.

If your child is living in off-campus housing, you’ll need to get a renters policy.  These policies will protect valuables such as laptops, and other electronics, as well as personal liability.

Auto Insurance

Insuring young drivers is expensive.  Half of young drivers bring a car with them to college. To keep costs affordable, your college student should stay on your policy!

If your child plans to take a car with them to school, be sure to notify your insurance company.  They may need to reprice the policy due to the school’s location.

If your child plans to leave their car at home, ask your insurance company about away-at-school discounts. Be sure to keep your child on your policy. It keeps rates down over the long haul.

Umbrella Insurance

If your child plans to leave their car at home, ask your insurance company about away-at-school discounts.  Be sure to keep your child on your policy.  It keeps rates down over the long haul.

When your child is away at school, you should always plan for the unexpected.  The best way to do that is with an umbrella policy.

This type of policy offers optional liability protection beyond what your homeowners and auto policies cover.  The coverage extends beyond incidents at your home, even if you are traveling outside of the country.

Umbrella policies can also provide protection for something not covered by your home or auto policy.  Be sure to consult your insurance agent to be sure who and what your umbrella policy covers.

As always, we hope you’ve found this information helpful.  If you have any questions, we can help!