College-Bound Coverage

August 6, 2014 at 9:01 AM | Posted in Home, Reminders | Leave a comment
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Sending your child off to college can be a very emotional experience, making it difficult to remember everything that needs to be thought of while worrying about them leaving home. Insurance coverage is one topic that is often forgotten, although it is one of the most important topics. The proper insurance coverage not only protects the student but protects you, the parent as well. If your child is under the age of 24, is a full-time student, and was a resident of your household before moving out to school, some of your home and auto coverage may follow them if they will be living in the dorm.

Covering a student’s actions:
Your homeowner policy provides coverage for bodily injury or property damage that is caused by your child accidentally. Intentional acts are not covered. This only applies if they are in the dorm. This may be a good time to consider an umbrella policy to obtain additional liability coverage.

Covering a student’s belongings:
Your homeowner policy provides coverage up to 10% of your contents coverage for their belongings while away from your premises. This may NOT apply if they are living in an off campus apartment or fraternity or sorority house.  When it comes to electronic devices such as laptops and computers, you may want to specifically schedule these items.

If your child will be living off campus, they would want to purchase a tenant policy to protect their personal items and receive liability coverage. Some landlords are now requiring that they be listed on a tenant policy so they will be notified if it cancels during the year.

Covering student autos or driving liability: When your child takes a car to school, be sure they are listed as the primary operator and that you have notified your insurance agent of the town the vehicle will be garaged during the school year. Make sure your child knows not to let anyone else drive the vehicle, as this would negate any available coverage in the event of a loss.

If your student is not taking a car to school and there is a chance they may drive someone else’s vehicle, make sure you leave them on your policy as a rated operator. Should they be in an accident, your auto policy will provide them some coverage if the owner of the other vehicle did not carry enough liability coverage. There may also be discounts available to students away at school.

There are so many issues to consider as you help your child leave for college. Call us at 888-850-9400 and we can help you arrange for any insurance coverage needed before they go.

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