Identify Coverage Gaps for Students Away at College

August 29, 2012 at 9:31 AM | Posted in Auto, Home, Insurance Policy, Personal Insurance, Personal Property | Leave a comment
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There’s so much to think about when sending your child off to school! Don’t forget to make sure the proper insurance coverage is in place to protect you and your child, vehicles, and personal property.

Student Owned Autos

When your child is bringing their own vehicle to school, the most they’ll need to do is to make sure the Insurance Company is notified of the new garaging address.

Use of Other Owner’s Vehicle

When a student is using someone else’s vehicle, including the new Zip cars that college campuses are making available, parents need to be aware that naming them on your auto policy while they are away may not be enough.  The Massachusetts auto policy excludes coverage for bodily injury and property damage for your “regular use” vehicle.  Since “regular use” can only be determined at the time of a claim, we suggest listing your child on your auto policy and adding the Use of Other Autos-Vehicles, Furnished or Available for Regular Use endorsement.  By doing so, you are ensuring the bodily injury coverage on your personal auto policy will follow your child while using a vehicle they do not own.  The Zip cars include insurance in the cost, however there are restrictions on who is eligible for coverage and how much coverage is available depending on their age.

Personal Property

If you have a home, condo, or tenants policy on your primary residence, your child’s personal property brought with them to college is covered up to 10% of the limit of your contents coverage.  The same restrictions and deductible that apply to your contents at home applies to your child’s contents at school.  You may want to schedule limited items such as computers, electronics, and musical equipment on your primary home policy.  By scheduling these items, they will be covered for additional causes of loss, such as dropped or spilled liquids, thereby eliminating the deductible.

Call Protector Group at 888-850-9400 and we will help you identify coverage gaps and find personal solutions to fit your needs.

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