College Students Should Consider Insurance Options
Insurance needs can greatly change for students living on campus.
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Whether your student is beginning their freshman or senior year of college, it’s important to consider how their insurance needs will change if they’re living away from home. There are a number of considerations to make relative to a student’s insurance needs, several of which are outlined below.
Is your student covered?
Take a look at your insurance policy to see if it covers your student while they’re away at school. Your student should have renters’ insurance and car insurance to protect themselves and their valuables.
Living in the dorms?
Students in dorms are covered for liability and personal property coverages under West Bend Mutual Insurance Company’s Home and Highway® Policy. If your student lives off campus in a house or an apartment, there may not be coverage under your policy. Your insurance agent can help determine what coverage fits your student the best.
What is your student bringing?
If something happens to your student’s belongings, you and your student may need to file an insurance claim. To be sure you know exactly what items you have, make an inventory before leaving for school. There are a number of free apps to help you keep track of belongings such as Sortly and Memento Database to name a few.
Have you filled out the right forms?
Before your student leaves, make sure to complete a few important documents that will help you navigate unforeseen situations. For example, make sure you have access to your child’s health information. It’s important they complete the HIPPA release form in case of a medical emergency. If there’s certain information your college student doesn’t want shared, that can be stipulated on the form. Other forms include Medical Power of Attorney and Durable Power of Attorney.
Will your student have a vehicle?
Before packing your college student’s car and saying good-bye, there are some things you should know and do:
- Find out the college’s policy on student vehicles;
- Discuss your auto policy with your insurance agent;
- Review safety features and consider purchasing additional safety measures (i.e. dashboard camera, car alarm, anti-theft devices, roadside assistance) to keep your student and car safe;
- Discuss responsibility and expectations; and
- Understand state requirements.
Good student discounts
Studies show that students with good grades are less likely to have accidents and are safer drivers overall. That’s why insurance carriers offer a variety of student discounts based on grades and location. Check with your insurance agent to see what student discounts you could be eligible for. Learn more at thesilverlining.com.
