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What to know about College Students and Insurance

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Every year there are many questions that flood into our agency about what types of insurance policies college students need.  This post will be a guide for anyone who needs to know exactly what they should do to properly insure a college student.


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A College student that Commutes to School.

The parent’s Homeowners policy will cover the personal property of a child. Regardless of if they are enrolled in a college or not.  You should consider getting a Personal Articles Policy (PAP) to insure any type of equipment that a student has added for the purposes of school.  Equipment like this commonly include cameras, computers, and tablets.  Contact your agent for a full list of items that can be placed on a separate PAP.

Nothing needs to be done to the Auto policy if your child commutes to school.  Sure, you can let your agent know that he/she is commuting but that probably wont affect the rate.


Student away at School

Get them a Renter’s Policy.  A Renter’s policy is relatively inexpensive.  Ranging from about $100 to $400, depending on the amount of coverage and the credit rating of the renter.  This policy will cover the personal property of the student as well as provide liability coverage.  In fact, some schools and off-campus housing are requiring tenants to have Renter’s Insurance.

When determining how much Personal Property coverage you need, start with your most expensive items.  Are you bringing a $2000 bed and a $1000 television?  Start there and continue to add the most expensive items.  Ballpark it, don’t make it too difficult.  If you have an expensive computer or camera then you should consider a personal PAP.  This post explains separate high value items in more detail.

Will they have a bicycle with them?  You may want to insure it.  Bikes are a great way to transport yourself around campus.  If it gets stolen you will most likely need to replace it.  A separate PAP will greatly reduce the cost of replacing a high value item like a bike or computer.  Without one you are subject to the Renter’s policy deductible or the cost to replace it on your own.


Don’t want to get a Renter’s Policy?

The student’s personal property is still covered, but liability is in question.  Depending on the policy and carrier, a college student may not be given Liability coverage if something were to occur at a dorm or other college housing.  If you are not getting a Renter’s policy but the student does have valuable items, I highly recommend a separate PAP.  The last thing you want to do is submit a claim through your Homeowners policy for the loss of a computer.


Auto policy Recommendations


Location of Vehicle

If you live in the city and your child is going to school in the country, tell your agent and ask them to “garage the car” in the new zip code.  If they are going from the suburbs to the city than you may want to drag your feet on making that call. Having a car in the city will cause your rates to increase.


100 Miles from Home?

If your student is going to school 100 miles or more from your house than you should qualify for a discount.


Other Auto Policy Discounts

Get a “Good Student” discount if they have an A/B average.  Make sure they are getting the “Driver Training” discount if they went to driving school.  You need a certificate that verifies the student has 30 hours of classroom and 6 hours of behind the wheel training.


You’ll have a lot on your mind with a child at college.  Don’t let insurance be one of them.  Call your agent and make sure you are properly insured.


My name is Keith Laskey. My goal is to educate the everyday consumer and to help them make intelligent decisions with their insurance policies.  Please contact me at my office, 610-948-4830, for any insurance related questions or concerns.  You can also visit the Ron Black Agency website or like us on Facebook!  Thank you for stopping by, have a great day!

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