If you have ever had to send your child off to college, you know how overwhelming it can be. Finding a place to stay, figuring out what to pack, making sure they have the right textbooks -- these are just a few of the things on the long checklist to complete before sending your child off. With everything that comes with preparing your child for college, don't put their insurance on the backburner.
A frequently asked question is "Well, my child is going away to college and he isn't bringing a car. Does that mean we can drop him from our auto insurance?" The answer to that question is no. Although it'll save you a bit of money, keeping your child on your auto insurance will keep you safe rather than sorry. You never know if your kid will be borrowing someone else's car to run errands when they are away at college, or if they will want to drive their own car when they come back for winter break. Additionally, auto insurance can cover your child if he is hit by a car while walking, bicycling, or if he is a passenger in someone else's car. Additionally, keeping him on your auto insurance maintains continuous insurance coverage which will come in handy when he starts his own auto insurance policy. On the other hand, if your child does take a car to college make sure they should remain on your auto insurance, considering it is much more expensive for young drivers to have their own policy. Let us know the new garaging address so we can see if your college student qualifies for a discount.
Another thing parents tend to have questions on is home or renters insurance for your college student. If your child continues to live in your house, his belongings will still be covered under your policy. If your college student stays in a dorm on their college campus and you have home or renters insurance, your policy will cover his belongings up to a 10% limit of your personal property coverage. If your college student lives in his own place or shares an off campus house or apartment, you might have to set up a separate renter's policy for them. This policy would cover his stuff and provide liability coverage in case someone is injured inside his house or apartment. Give us a call if you are unsure whether or not your child needs his own renters insurance policy.
Lastly, we have health insurance. Check with your provider to see if your student is still covered, because he may be covered up to a certain age as a full time student. If your student goes to college out of state, be sure to find out how your coverage differs in that state. If you have an HMO and your student's college is not within the service area, you are still covered in emergency situations. If you have a PPO and the accident is outside of the provider network, benefits will be paid at the non-preferred level.
If you have any other questions regarding insurance changes once your child goes to college, please don't hesitate to give us a call.
To obtain free insurance quotes or better insurance coverage please contact an independent insurance agency like us who can offer multiple carriers.
Suzanne Brown Insurance Agency
A Texas Independent Insurance Agency with over 40 insurance carriers