It is that time a year again for students to return to school. If your child is attending college, there are discounts available such as good student and student away at school. The good student discount is given if your child is enrolled in 12 or more units and has a 3.0 or better grade point average. Depending on your Auto Insurance carrier, the student away at school discount can be given if your child does not have access to one of your vehicle’s while attending college.
Most carriers require the student be more than 100 miles away from home in order to qualify for the discount. If they do have a vehicle with them at college, be sure to provide the garaging address of where the vehicle is garaged. Also, check with your Auto carrier if your child is to drive another vehicle, will your liability limits become secondary coverage if they were involved in an accident.
In regards to your Homeowners Insurance, check with your carrier in regards to your child’s liability and personal property coverage while attending college. Most Homeowners’ Insurance
policies will cover if child is living in a dorm. The same liability limits may apply as if student was at home. The coverage for belongings may be limited to a certain percentage for items that are off‐premises, such as in a dorm room. This would include personal belongings such as computer, furniture, clothing and any other miscellaneous items they have with them. The policy can always be endorsed to increase coverage if needed.
It is recommended to take inventory of your child’s belongings that are in their possession. If your child is living in an off‐campus apartment with a lease, check with your carrier as coverage may not apply. It may be a good idea to obtain Renters Insurance in this case. If your child has roommates, each roommate should get their own renters insurance policy, which will cover each one’s own possessions and liability. Renters Insurance policies also cover the extra cost to live elsewhere temporarily if the apartment is damaged due to fire or a covered peril.
For additional information, please feel free to give our office a call…