Personal Insurance Update

This time of year, many recent high school graduates are preparing for their next phase of life.  Their plans may include heading off to college in another city or state.  One of the things that you’ll want to discuss with them before they go back to college is how to keep their car and their belongings safe and protected. Here are some answers to a few of the most common questions that parents of college students often ask us.

Insurance Coverage for College Students

Personal property – Depending on the value, items like clothes and computers should be covered under your homeowner’s policy.  However, if your student has an expensive computer, smartphone, tablet, jewelry, or other items, you might not be covered.  Most homeowner’s policies have limitations on items valued at over $1,200 (varies by policy).  Coverage will depend on your individual policy, so we recommend contacting your independent agent.

Auto – If your student is taking a car to college, make sure your agent knows of the address change.  We might actually save you money depending on the location.  As a full-time student, your child may qualify for a Good Student Discount (if he maintains a grade point average of 3.0 or higher).

Health insurance – Children can remain on your health policy until the age of 26.  Many colleges will offer student health insurance at a very reasonable cost.

Personal Liability – This coverage is provided anywhere the student goes, inside the U.S.A.  Your student might be covered under your current homeowner’s policy, or even a renter’s policy, if one is in place.

Are college kids eligible for any discounts?

This can be important question to ask your insurance agent. Many insurance companies offer discounts that apply to young, unmarried, full-time college students who spend most of the year away from home without the use of a vehicle.