Far from home, not alone: Insurance secrets for “Away-at-College Kids”

Far from home, not alone: Insurance secrets for “Away-at-College Kids”

You and your child are excited, nervous and full of questions as they move away from home to enter college. Does your insurance cover them in the dorm? How about driving? What if they don’t bring a car? AAA says it’s the right time for undergrads and their families to review their insurance policies to make sure they have what they need for these exciting new chapters.

“Insurance isn’t something you can just set and forget,” said Skyler McKinley, regional director of public affairs for AAA. “As your life changes, your insurance should change with you – and there’s no more exciting a change than kicking off your adult life. Stay protected and save money by making sure your insurance keeps up.”

Homeowners and renters insurance tips for students:

• If you live in a dorm, most personal possessions will be covered under your parents’ homeowners or renters insurance policies. Still, expensive items such as computers and other electronics might be subject to coverage limits under a standard homeowners policy. If the limits are too low, parents might want to consider purchasing a special personal property endorsement.

• If you live off-campus, purchase renters insurance. Renters insurance is necessary to protect you and your belongings, and can protect you from liability in the event that someone accidentally gets injured on your property. It’s highly affordable, to boot.
• Leave valuables at home. While some valuable items, such as laptops, may be needed on campus, items such as expensive jewelry might be best left at home.
• Create a “dorm inventory.” Create a detailed inventory of all items you’ll be taking with you, including photos and receipts. In the event that you need to file a claim, an up-to-date inventory will help make the process easier.
• Safeguard your items from theft. Always lock your dorm room door and never leave belongings unattended on campus. According to the Insurance Information Institute, burglaries make up about 50 percent of all on-campus crimes, and they occur primarily at the library, dining hall, and other public places.

Car Coverage at College

• Coverage may depend on whether you leave home or stay in the area. If you bring a car to campus and remain on your parents’ policy, coverage likely still applies. If you attend an out-of-state school, make sure your insurance coverage follows you. If a student isn’t taking a car to college, parents can save by taking them off their policies until they’re driving again.
• Check state minimum liability requirements. If you’re headed out of state with the car, check with your insurance provider to ensure minimum requirements are met. Insurance providers know the requirements of each state they’re licensed to do business.

Check with your insurance agent. To see what discounts you may qualify for and to ensure you have adequate coverage while away at school, get in touch with your insurance agent.

Health Insurance:

We also did some research on health insurance while away at college.

• College students need health insurance to cover their medical bills in the United States, the same as anyone else.
• The majority of universities provide student health insurance plans.
• Students could also get coverage from a parent’s insurance plan, by buying their own individual plan, through a part-time job, or with government programs.
• Some schools require students to buy health insurance but many do not.
• Even if a student isn’t required to buy health insurance, they should still strongly consider it.
• Most colleges also offer mental health and counseling services. College, coupled with living away from home can create a lot of stress. Your student should take advantage of these services.

Details of the family’s plan matter, however. If the family’s insurer is a health maintenance organization, it may not have in-network providers where the student is attending college. In that case, it may be better to enroll in campus coverage.

It’s best to check with your insurer — start by calling the number on your insurance card — to see if your plan will cover your student at college.

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