WEDNESDAY, AUGUST 7, 2013
Blog By: Brad Turner
College students will be packing their things to head off to school or back to school soon. This often results in calls to insurance agents wondering if anything special needs to be done to have proper insurance for this situation.
With respect to property insurance for things the student will take along, it may be necessary to get a renter’s insurance policy…….. or maybe not! A parent’s home policy may automatically cover property away at school. There is some variation from one insurer to the next on this point. Some specify an age where coverage would no longer apply. There may also be a dollar limit on how much property is covered when it’s in a different location. This is one of those areas where it’s hard to generalize and we suggest calling your agent to find out exactly how your particular company handles these situations.
Your auto insurance coverage would still be good in a different location but if the student isn't taking a car with them to college, you may be entitled to a lower premium. Many companies give a nice discount if a student resides more than 100 miles away and doesn't take a car with them. The insurer won’t know you are eligible for this unless you speak up, however.
A student heading off to college is one of those times when it’s wise to have a conversation with your insurance agent. Agents expect to get such calls this time of year, so we suggest picking up the phone and making sure any needed steps are taken.