Your kid is off to college and as a parent you may have a few worries: Are they eating properly? Partying too much? Hitting the books enough?
One thing you may not have thought of though, is if your child is insured correctly at college? Many may not know, but your child leaving for school can impact your insurance coverage in a few different ways.
An example of this may be if your child plans to live at their dorm or apartment for the majority of the year, you should call your agent within a month of the move to make sure there aren’t any gaps in your coverage! You may even find out you can save some money.
Let’s look at the four different coverages below!
renters insurance for college students
Nine times out of ten, if you step into a typical college dorm or apartment you will find expensive laptops, phones, speakers, smart watches and a television or two. Tech items like these are a big concern because of college theft. While many homeowner policies cover devices like these, it could still affect your coverage. This is why we recommend you call your agent to be certain on what is and isn’t covered under your policy.
If you’re renting an apartment or home, it could be required by the owner that you must have renters insurance. However, every place is different, so before moving in make sure to check to know what you need to have.
auto insurance for college students
Another thing to consider when a child leaves for college is their auto policy. If your child is heading to a school out of state, you’ll need to contact your agent. Every state has different rates and risk factors, so getting an agent to weigh in on your situation and give advice will only help you. Things to make sure you share are where your child is enrolled, where the car will be parked and when the change goes into effect.
For example, if your child is parking on campus, you may want to consider comprehensive coverage. This could help to replace the car if it gets stolen or to fix any damages if the car gets hit.
health insurance for college students
Your child can remain on your healthcare plan until they turn 26. If your child is going out-of-state for school, you’ll need to contact your agent to ensure there are in-network providers near their location. Just in case there aren’t any in-network providers near, we suggest your child sees their regular doctor for any routine visits or tests before embarking on their new journey.
However, emergencies can happen. It’s important to have a plan in place to handle these specific situations.
umbrella insurance for parents
When starting college, it’s expected that kids may branch out and let loose a bit. You may want extra insurance coverage for peace of mind. Because your child is listed as a dependent, you may be held responsible for their actions - even when they are at school. If you’re thinking this is something that applies to your current or future situation, an umbrella policy might be helpful.
final thoughts
Remember, when it comes to insurance coverage for college students, there isn’t a one-size-fits-all recommendation. It’s important to discuss your situation with your Arnold Insurance agent.
While more coverage comes along with a higher premium, it’s better to be overcautious and covered than underprepared. Our goal is to protect you and your college student with many options to choose from.
Looking to talk with an Arnold Insurance further about this? Contact us today!
