Insurance Guide for College Students

As a child goes off to college there is insurance needs to consider and it might be a good time for an insurance review with your insurance agent.

Your home insurance typically will extend contents coverage from your policy up to 10% of your home contents limit.  The student must be registered as a full-time student, typically less than 24 years of age and a member of your household.  Any claim would be subject to your homeowners deductible but scheduling an item might be an alternative to having a lower deductible.  Remember intentional acts would not be covered.  If your child is renting an apartment be aware of the specifications in the lease.  We would caution the parents co-signing the lease.  You might even consider purchasing a separate renters insurance policy.

With auto insurance, you should have a conversation with your child if they are taking the vehicle to school.  Remember the owner of the auto is ultimately held liable for any accident with the vehicle even if your child lets another student drive the vehicle.  If the child is at school without a vehicle please consult with your agent as some carriers provide discounts depending on the number of miles away from home.

As always, we are available to review your insurance program to uncover unknown exposures, credits or quote optional limits of coverage.

Here is a link to a short video from one of our insurance carriers, Central Insurance, on college student coverages.

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