Insurance tips for College-Bound Kids

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College is expensive enough without the added cost of unexpected accidents or theft, not covered by your insurance policy.  If you have a student heading away to school, below are a few tips to help you get the most out of you coverage.

 

 

Homeowners (varies by state)

Personal Property:

Most homeowners policies will cover personal property for up to 10% of your total policy while your child is residing at school (a $100,000 policy equals $10,000 in coverage). Not all types of damage are covered, so be sure to talk to your agent about your specific coverages.

Some items such as jewelry or expensive electronics, require special coverage. Renters Insurance is strongly recommended for students that are headed to college.  Renters insurance is not only for those living in an apartment, it is also recommended for those living in dormitories.

Liability Coverage:

General damage to a dorm room or apartment is not usually covered under a homeowners policy. BUT, a renters policy would provide liability coverage for a dorm room or apartment.

Documentation:

Creating an inventory of the items your child is taking to school is a good idea. This may seem like a big project but it can be as easy as: taking a video camera and recording your entire apartment including cupboards & drawers.

Auto (varies by state)

Car Stays Home: Keep your child listed on your auto policy if they will still driver your car while at home on school breaks.

Car at School: Make sure to notify your agent if your child will be taking a car away to school. In most cases, if the car is registered to you and listed on your policy, it will be covered.

Discounts: A full-time student meeting certain academic requirements can qualify for a good student discount. Distant student discounts may also be available.

Before your child leaves for school, call Marketing Link Insurance at 800-944-3264. We can walk you through the steps to ensure you have the right coverage for yourself and student. We’re here to help!