Fall is approaching, which means it’s time to start making preparations for college students.
If your college student is not taking a car to school, you may be eligible for a discount on your auto insurance. The general guideline for a “Distant Student Discount” is that the child be away at a school over 100 miles from home without a car.
Another planning aspect to consider is the coverage of your student’s personal belongings at the campus. Your homeowner’s policy can cover the belongings on campus as long as the student was a resident of your household immediately before heading off to college and as long as the student is under a certain age. There are specific limitations on theft for student belongings on most homeowner’s policies. The exact wording can vary from company to company, so be sure to check with your agent to verify how your policy responds. For example, the ISO homeowner’s policy (HO3) states that theft coverage would not apply to student property away from the residence premises if the student has been away from the property for more than 45 days immediately before the loss. This means that when the student comes home for summer break (three months), the coverage would not apply to the stolen property that was left on campus. However, in the event the student is home for a short break (less than 45 days), the coverage would apply.
If you have a student who is going away to college and you would like to discuss the specifics of your policies and potential changes that may help protect you and your family, please contact one of our local offices to speak with one of our account representatives.
Carlsbad Home and Auto Insurance: (760) 795-2002
Temecula Home and Auto Insurance: (951) 296-6833