Is Your College Student Prepared for the New School Year?

Many times as your college student prepares for the new school year, you focus on getting clothing, books, household items, etc.  But, is your student prepared for an emergency or disaster?  Make sure your student is ready for college with the right insurance for their personal belongings and automobile.

Personal Belongings

Accidents, thefts and natural disasters can occur in college housing.  You should consider some type of coverage for a student’s personal belongings (clothing, jewelry, electronic equipment, household furnishings, etc.).  The recommended first step is to see if the full-time student’s belongings may be covered by the parent’s homeowners policy.  Many insurance companies provide 10% of your personal property coverage to the student away at school.  Check with your insurance agent to find out.

If they are covered by homeowners insurance, find out more details about any limitations on expensive items such as jewelry, computers, electronic devices, etc.

If the student’s personal belongings are not covered by the parent’s homeowners insurance, you may want to consider purchasing renters insurance.  Renters insurance will cover their personal belongings; provide liability protection and medical payments protection.

Auto Insurance Coverage

If the student owns the vehicle (vehicle titled in student’s name only), they may need their own individual auto insurance policy.  Young drivers will typically pay higher premiums.  Generally, young male drivers will pay more than young female drivers.

If the parent’s own the vehicle (vehicle titled in parent’s name), the student should be listed under their auto insurance policy as an additional driver.

It is important to keep your insurance agent up to date to minimize any potential gaps in coverage.  Notify your agent about where the vehicle is principally garaged.  In addition, make sure to take advantage of any discounts that may apply if the student doesn’t take a vehicle to college or a good student discount for having a 3.0 GPA or above.

If you have any questions about what All-Time Insurance can do for you, please contact us today.

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