Do I Need to Adjust My Insurance When My Child Goes to College?

When your child goes to college, it’s a time of significant transition that can be challenging. With numerous tasks and checklists to tackle for this new life experience, include speaking with your insurance provider on your list.

This can help ensure your student maintains coverage while away from home.

Do I Need to Update My Homeowners Insurance When My Child Goes to College?

Most homeowners insurance policies cover your student’s belongings while they’re living on campus. However, some providers have specific requirements for this coverage.

These criteria often include being a full-time student, residing on campus, being under 24 years old and being a relative on the homeowners policy. If your student opts for off-campus living, consider getting a renters insurance policy.

Do I Need to Update My Auto Insurance When My Child Goes to College?

If your child plans to take a vehicle to college, it’s crucial to inform your insurance agent. As long as the vehicle is listed on your policy, it should remain covered. However, remember to update the storage location with your insurance company to avoid potential claim denials.

If your student won’t be using a vehicle you own, consider removing them from the policy or designating them as an occasional driver rather than a primary one.

What Types of Insurance Do College Students Need?

Consider the following insurance options for your student:

• Renters insurance—If your child lives off-campus in a house or apartment, consider helping them obtain renters insurance. Renters insurance can help financially protect personal belongings (like jewelry, laptops and electronics) and may include personal liability coverage for accidents they’re responsible for.

• Auto insurance—If your student takes a vehicle you own, ensure they’re included in your policy. If they own their vehicle, they should have their own auto insurance policy.

Insurance Discounts for College Students

The following are potential discounts college students may qualify for:

• Good student discount—Students maintaining a specified grade-point average may be eligible for auto insurance discounts.

• Student away at school discount—Some insurers offer a discount on auto insurance when a student attends school more than 100 miles from home without the insured vehicle. This discount recognizes that the student is not regularly using the vehicle, reducing the risk for the insurance company. As a result, eligible policyholders may receive a discount on their auto insurance premiums.

Insurance for College Students in Port Orchard, WA

If you have a student attending college, contact You Choose Insurance to review your insurance policies. We can make coverage recommendations and determine which discounts your student may qualify for.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.