Is Your College Student Covered by Insurance?
Are you a college student going away full-time for school soon or do you have a child going away to college? If so, it is important to know how you or your child will be covered under the parent’s homeowner’s insurance policy. A homeowner’s policy can cover a lot more than you may realize.
Your homeowner’s policy most likely will extend coverage for your college student if they are:
- Under the age of 24
- Enrolled full-time in college courses
- A resident of the household before moving to school
Homeowner's Insurance Can Cover Personal Property
Personal Property coverage can extend to your child when going off to college to cover their personal belongings in their dorm or apartment. Typically your homeowners policy will cover up to 10% of your personal property when it is off premise when there is a situation involving theft, vandalism, or a fire. You can add an endorsement to extend coverage to specific items that may go above the limits, such as a new laptop or camera. Your homeowners deductible would apply when turning in a claim for these items.
Personal Liability Can Help Cover Expenses
There is a good chance your student will live in a dorm or apartment with roommates sometime in their college career. If there is a situation where your child has people over in his or her dorm and someone gets injured, that person may want to sue. Another common situation would be if your kid unintentionally damages school property. Personal liability will help pay for expenses in those situations, and it can also pay for the student’s legal defense if there were to be a lawsuit.
Policy May Cover Medical Payments to Others
In situations like the one mentioned above where a person gets hurt at your child's dorm or apartment, homeowner’s insurance coverage can help pay for any medical expenses and hospital bills that your son or daughter is responsible for.
Auto Insurance and your College Student
If your college student is going away to school without a car, be sure to reach out to your insurance agent to discuss options for your auto insurance. Some insurance companies will provide a discount for those students who are enrolled in full time classes and are attending school at least 100 miles away from home.
Is Your College Student Covered?
Coverage really depends on the type of insurance policy you have. Many policies keep the same coverage with personal liability for your student whether they are at home or away. With personal property, each insurance company will give a percentage on what they will cover involving your personal belongings. It is smart to discuss with your agent the coverages and endorsements you have and how they extend to your college student(s).
If your child is taking a car to school, make sure you understand the coverages that you have in place and any limitations to your policy.
Tips for college students to protect their items:
- Keep your dorm room or apartment locked at all times.
- Don’t post your vacation or weekend getaways on social media.
- Don’t leave candles lit or unattended.
- Plug your electronics into surge protectors.
- During the winter months, keep your heat at an appropriate level so pipes do not freeze. If you are leaving for winter break, make sure that the heat does not get turned off.
This article was written by:
ALEX HAINES
ALEX WAS A SUMMER MARKETING INTERN AT TROXELL INSURANCE.
This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.