Insurance Considerations for College Students
As the time approaches for your child to head off to college, there are a few factors to consider regarding their insurance coverage. McClain Insurance can offer guidance on the specific insurance needs that may arise for your college-bound student. Here are some key areas to consider:
- Auto Insurance
- Homeowner’s or Renter’s Insurance
- Health Insurance
Auto Insurance for College Students
When your child heads off to college, their auto insurance needs may change. Even if they won’t be taking a car with them, it might be beneficial to keep them listed on your policy for various reasons:
- They’ll be covered when they return home and need to drive.
- Insurance protection is available if they drive a friend’s car while away at school.
- They will be covered if involved in an accident while walking, biking, or as a passenger in someone else’s car.
If your child is a full-time student, they may qualify for a Good Student Discount if they maintain a certain grade level. Additionally, if they attend a college 75 miles away or more, a Remote Student Discount may apply. If they take a car to school, they should remain on your auto policy, which can be more affordable than them having their own policy.
Home and Renters Insurance for College Students
When it comes to insuring your child’s belongings at college, several factors come into play depending on their living arrangements. If they remain in your household, your existing homeowner’s or renter’s policy may extend to cover their belongings. However, if your child lives off-campus or leaves belongings in a dorm or fraternity/sorority house for extended periods, separate renter’s insurance may be required. It’s essential to assess the specific circumstances with an independent insurance agency to determine the best course of action.
Health Insurance for College Students
Ensuring that your child has adequate health insurance coverage while at college is crucial. Depending on the type of health insurance policy you have, coverage for your child while away at school and during travels may vary. It’s important to verify the scope of coverage and any limitations, especially when it comes to out-of-state or international travel.
As your child embarks on this new chapter, it’s imperative to address their insurance needs to provide them with adequate protection. McClain Insurance Services specializes in assisting families with the evolving insurance requirements of college students. Reach out to us for a thorough review of your insurance plan to ensure that you and your child are adequately protected.
* Please Note: Insurance policies vary by company and by state. Not all policies will include every aspect of coverage described above. Be sure to review your policy and consult with your insurance agent for personalized information.
