Must-Know: Insuring Your College Student

Congratulations! Your child just received their acceptance letter to an accredited university! Now it is time to start planning the big move. Many parents fail to realize that sending their child off to college has a variety of insurance implications. In between determining how you will get all of your child’s belongings to their new home and planning their class schedule for their first college semester, you must keep these insurance factors in mind:

  • Will your child be bringing their car with them to college? Depending on the state in which they move to, you may notice a spike in your auto insurance premium. Encourage your child to maintain a B average in school and they will be eligible to receive the good student discount. Likewise, your child may be able to receive a discount for taking additional driver’s education classes.
  • Will your child be moving into a dorm this semester? If so, your homeowners’ insurance policy will likely extend to cover their personal belongings under property off premises coverage. You will want to speak with your insurance carrier about the deductible that would be applied to claims at this remote property.
  • Will your child be moving into an apartment near their near college? If so, your homeowners’ insurance will not cover their personal belongings. Therefore, you will need to purchase a renters’ insurance policy at a very affordable rate. A renters’ insurance policy will cover the contents within the property and liability coverage in the event that someone is injured on the property.

Schedule a review at Stromsoe Insurance Agency to make sure that your student is receiving all discounts that they qualify for. We want you to receive the peace of mind knowing your college student is safe when living away from home. Contact us today with all of your remaining questions regarding insuring your new college student.

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