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College Student Insurance Concerns

By Marilyn Katz

Republish: EasyPublish™ Published: 21Aug2011 Word count: 560 Viewed: 106 time(s) Get Free Content For Your Site

If your son or daughter has the bags packed to head to college, you may want to consider a few things about your family and student insurance policies. This is particularly true if your child will be attending a school in another city. What should you think about before your college student heads back to school?

Auto insurance is usually a concern for any family with teens or young adults. We all know that younger drivers tend to increase auto insurance rates. Car insurance rates for teenagers and young adults are always higher. A simple online insurance quote, to account for different circumstances, could end up saving you a lot of money down the road.

If your child is not taking a car, be sure and call your insurance agent. That may actually lead to lower rates because the student will no longer be a regular driver.

If he or she is driving away from home, you should also let your insurer know. Rates in another city may be different. There may also be additional concerns about where the vehicle will be parked and how it will be used. It is always better to clear up everything before you need to make a claim!

What about health insurance? Your child should be covered under your family policy. However, if your medical plan is an HMO or PPO, the network may not extend to another city. Be sure and find out before you think everything is taken care of. If not, it may be prudent to consider a college student plan. Either way, be sure your child is well covered by a medical plan, and that your child knows how to access services.

Does your child need renters insurance? Some dorms may include this coverage in the rent, but others may not. You may also check to see if your own homeowners's policy will cover your college student as long as they are still getting support from you. If your child lives off or on campus, in area with a lot of other students, a rental policy insures cheap protection against theft or damage.

You may not think your student owns a lot. But if you actually add up the cost of books, computers, calculators, and other supplies, they may cost thousands of dollars to replace. Most college students, and families with students, have to live on tight budgets. A loss can be a severe financial hardship.

Find out if your own home insurance policy will extend coverage for your college student. If not, renter's policies are usually very cheap. They can cover the replacement costs of lost, damaged, or stolen items. Some even provide cash to help relocate your student if the residence is damaged. For a few dollars a month, you can buy a lot of protection.

Be sure your son or daughter knows how to access services too. Before they go, make sure they have copies of insurance cards so they can present them to make a claim or get medical services. A lot of times, family coverage can be extended to cover college students. But it is work a little trouble to make sure your student is well covered.

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