Leaving the Nest and Going Off to College?
Exciting! Now, let’s figure out that insurance coverage!
By: Meagan Baron
August 27, 2019
For some universities and community colleges, it is already that time of the year again…Back to school!
Q: Will your college student be able to stay on your car insurance policy? And, will their belongings be protected?
A: A dorm room can be a long way from home, BUT distance doesn’t have to break the deal! Yes, it is possible for your college student to be covered under both your car and home insurance policies.
Great! So, what are the details then? Here are some general things to know about college students being on their parent’s insurance policies:
- Are you supporting your child financially? If so, they’re a household member! It doesn’t matter if they’re over 18 or out-of-state.
- Cars that are taken to school can remain on your auto insurance policy.
- If your student leaves their car at home with you, it can still have coverage. If they choose to do this, you might qualify for an insurance rate discount if the car is not a daily driver. The student will be covered if they drive the car now and then while they are visiting at home during a weekend or the holidays. (Just make sure that if they will be using the car for an extended period of time—such as during summer break—that you let your independent agent know.) The insured car can also be protected against things that your policy covers as it sits in your driveway waiting for your student to come home. For example: hit-and-runs, uninsured motorists, vandalism and theft.
- Does your student maintain a high GPA? Well, then they could be eligible for a Good Student Discount! (Carriers have different GPA minimums, but average is 3.0 or higher.)
- Students can be on the car title, but cars only in the student’s name must be registered and insured by the student themselves. If you and the student are on the title, or you alone, the car can be insured on your policy so that they can drive it.
- Make sure that your student is listed as a registered driver on your policy.
- Some personal property coverage from your existing homeowners’ policy extends to your student. Talk to your agent for details.
- Once you find out the details and confirm that your homeowners’ insurance policy will financially protect your student’s belongings at college, have your student create an inventory list. An inventory list will help you know exactly what has been brought in case of theft or vandalism.
- Taking pictures of the items that your student brings to school is always a great idea as well. Photos help prove what you owned and the condition that each item was in.
- If you are doing any back to school shopping, saving the receipts can really help you in case of a loss! Save all receipts, especially ones for computers, cameras, cellphones and other expensive pieces of technology.
- For further protection, talk to your student about not bringing items to college that are individually worth more than your cap.
- Do you have an umbrella policy? An umbrella insurance policy covers all household members. Having one can help your student, so get all the details as soon as you can from your agent! Coverage depends on your policy, but in general, umbrella coverage can help your student with financial protection if he/she gets into an auto accident or experiences another covered loss.
- Coverage depends on your policy, carrier, and state. It does not hurt to ask what your options are! Our independent agents LOVE questions, and there is no such thing as a stupid question or too many questions. We are never too busy to help you, or someone you love, understand current coverage with us or start a new policy.
Your agent is here to help you find answers and feel better about what comes next. College is already a big step on its own. Let’s help you with the insurance side of things. As we say: “Stronger…Together!” When you work with Mosaic, we will work together to make sure that your student’s “piece of insurance life” brings you peace of mind. You can give us a call at: 425-320-4280