College takes some getting used to. There’s a lot to know and a lot to learn, but one thing often left unstudied is how to insure your student while they’re away. But insuring your college student properly doesn’t have to be hard and could even save you some money.
For example, take cars. If your student doesn’t take their car to college and their campus is at least 100 miles away, you’ll probably get lower premiums from your insurance company. And if they do take their car, that could affect rates as well, either up or down, depending on where your student goes. So either way, check out your policy or talk to your insurance company.
Another topic worthy of study? Health Insurance. Full time students under 23 are normally covered by their parent’s health plan, but when confined to a group or network plan, you may have to find a participating doctor near campus. Many schools also offer their own health plans, doctors and facilities, too.
But what about all the “stuff” your student has? That laptop/iPod/DVD player/TV/clothes/etc was probably expensive. If staying in a dorm, your homeowners will normally cover these things, up to a limit. But, if your student is off campus in an apartment, you may have to get a renter’s insurance policy. Call your company and find out what coverage you have, and any you may need.
Bottom line? Finding out whether and how you’re covered is a course in itself, and a perfect opportunity for that student of yours to learn some real-life lessons.