Insurance considerations for a student away at school

Student moving into dormThere’s no denying it. Labor Day is coming soon which means that you might have children who will be heading off, or back, to college soon. Together with the many lifestyle changes that they (and you) will be making in this time of transition, remember that it’s also important to give your insurance a tuneup.

A recent industry report recommends considering these items when Johnny or Sally leaves the nest:

  • Auto: Taking your car or leaving it at home impacts your auto insurance. Call us with the location of the school for a determination of a credit or charge. Also, if your child keeps a B average or higher, you might receive a discount.
  • Housing: If the child happens to live in a dormitory, your Homeowners will normally provide up to 10% of your contents limit at his or her college residence.
  • Another option: Take out a tenant’s policy for your student away at school. For under $200 you can insure their belongings, provide them with their own liability coverage and keep any claims they may have off of your homeowners insurance so you maintain your loss free credits and insurability. If the student lives off campus, a tenants policy will be required to provide them with any coverage.
  • Consider scheduling valuable items as mysterious dissapearance is not covered by a standard homeowners or tenants policy. In order for theft coverage to apply there must be physical sign of forced entry or a police report.
  • Health: Your child is eligible to receive health benefits through your plan as long as they’re unmarried, remain in school full time, and are younger than 26 (under the Affordable Care Act) Once they exceed this age, you’ll need to obtain coverage for them from your employer.

These are general guidelines, so please consult with us to make sure you have the right protection at the best possible price. Even if your child already is at school, give us a call and we can make adjustments if needed.

UPDATE: More schools are utilizing i-Pads for use in education. While a homeowners or renters  insurance will respond to certain types of loss, there is a better way to specifically insure i-Pads and have the broadest possible coverage. For details on our i-Pad/i-phone specific insurance policy please click here.


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