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Heading to College: What To Insure

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Heading to College: What To Insure

College is an exciting time for young people. For a parent, it can be both exciting and sad to watch your child leave home. This time also can be fraught with worries. Will they get enough to eat? Will they succeed without help? Will they and their possessions be safe away from home?

The last question, of course, is a significant concern and, for parents of first-time college students, the ins and outs of insurance coverages are not always clear. From auto coverage to renters insurance, there’s a lot to learn about the life of a college student.


Protecting Possessions

When a student moves to college, she or he often brings many belongings from home. In addition to clothes, shoes and toiletries, most college students take stereo systems, cell phones, laptops, jewelry and other valuable items. At home, possessions are protected under a homeowners policy. But what happens when a child is away at school?

In an environment where theft is an unfortunate reality – there are approximately 798 burglaries for every 100,000 students – proper coverage is important. For students living in dorms, the family’s homeowners insurance can protect many possessions, but it’s best to contact an independent agent to verify the coverage you may already have. As Selective notes, some policies limit coverage on dependents’ dorms to 10% of the value of the contents coverage amount. So be sure you know the coverages for your homeowners insurance policy.

Students living off campus should consider renters insurance (as should anyone living in an apartment) for coverage of their personal property such as stereos, televisions, furniture and other possessions. Coverage on most homeowners policies is limited to dorms, not other forms of student housing. A renter with a stand-alone policy is protected. Renters insurance costs an average of $190 per year, according to the Insurance Information Institute. This coverage provides peace of mind by securing protection for personal possessions, liability and additional living expenses.


Staying Safe on the Road

For many college students, especially those living on campus, driving becomes significantly less important than it was in high school. Campus transportation and walking to class are common, and this trend is only increasing with the rise of ride-sharing services. But college students still need insurance if they drive when they’re home for summers and holidays.

Some students bring their cars to college. In this case, it’s important to notify your insurance company. In order to maintain appropriate coverage, your insurer must know where a car is primarily located, even if that means parking on campus a few hundred miles away from home.

Students who commute from home should reconsider their coverage, especially if they are driving long distances. If a student is away at college without a car, a discount may be applies to the parents’ auto policy. Check with a Glenn Insurance agent about what coverage is needed.

Make sure your college-bound teen is prepared – get a quote today!


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