Navigating College Insurance: A Parent's Guide

An Emotional Journey

Sending a child off to college is a whirlwind of packing, planning, and paperwork. Between the excitement and anxiety, insurance considerations often fall by the wayside—yet they are crucial in safeguarding your student’s well-being and your family's financial stability.

When Renters Insurance May Not Be Needed

If your child is living in on-campus housing, they may have partial coverage under your homeowners policy, typically up to 10% of the personal property limit. However, this coverage can be limited, particularly for high-value items like electronics. It’s essential to review what’s included.

Renters Insurance for Off-Campus Living

Moving off-campus is a common transition, but landlord policies don't cover personal belongings or liability. Renters insurance can fill these gaps, providing coverage for your student's possessions and living expenses if their rental becomes uninhabitable. This type of insurance is generally affordable, but remember, it doesn't cover roommates, making individual plans a necessity.

Auto Insurance Adjustments

Where your student parks their car can impact insurance rates. Keep your insurer informed about the vehicle's new location during the school year to ensure accurate coverage. This change might also make them eligible for potential discounts.

Health Insurance Review

Before sending your student off, confirm that their current health plan includes providers near their college. Compare it with any school-sponsored options that might offer better local access. This step ensures that they have convenient, reliable healthcare without unexpected costs.

Other Coverages Worth Exploring

Tuition insurance is worth considering to protect against unforeseen withdrawals. For students eyeing international studies, travel insurance can provide peace of mind. Though not the most thrilling aspect of college preparation, reviewing these insurance options is vital to avoid costly surprises.

We invite you to contact us for assistance in reviewing your current policies or easily getting a renters insurance quote.

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