College is a time of extremes. Having insurance for your college student is a great way to have peace of mind.
Here are the types of Insurance to put in place.
Most universities require that students have some form of health insurance. Many schools offer a student health plan. School health plans are a generally affordable way to ensure your child has basic health coverage. If you want to keep your child on an existing plan, check with your insurance company and the school to ensure your student will be adequately covered.
Renters Insurance for Students
While your student is living in campus housing, it’s important to consider getting renters insurance. With the portable nature of laptops, tablets, cell phones, and even speakers, theft is a big concern on college campuses.
While homeowners insurance policies may extend coverage to your child’s electronic devices, their residence in college housing might affect this protection. If your student is living off-campus, additional renters insurance may be necessary.
Student Auto Insurance
If your student is planning on taking a car with them to school, make sure that they and their car are covered. Your student’s auto insurance rates depend on many factors. Some of these include the state you live in, full-time student status, location of the school, age, etc. Check with your insurance company to find the best fit for you and your family.
Umbrella Insurance for Parents
As previously mentioned, college is a time of extremes and this could mean some extreme behavior from your student. If your child is a dependent, you can be held liable for any damage or injuries your student causes. An umbrella policy provides extra protection in the case of a lawsuit against your child. While increased coverage translates to higher premiums, it is also peace of mind.