Navigating the College Transition: An Often Overlooked Task

Sending a student off to college is an exhilarating yet overwhelming journey for parents and guardians. Between the packing, planning, and endless paperwork, it’s a whirlwind of activity. Amidst this frenzy, one crucial aspect often gets sidetracked—insurance considerations. These decisions play a vital role in safeguarding your student's well-being and your family's financial stability.

Health Insurance Review

Before your child makes their way to campus, it's essential to confirm whether your current health plan includes providers near their new location. It's also a good idea to compare this with any school-sponsored health options, which might offer better local access to healthcare services.

Renters Insurance for Off-Campus Living

For students residing off-campus, it's important to know that landlord policies typically don't cover personal belongings or liability. Renters insurance steps in to fill this gap, offering coverage that can extend to living expenses if the rental becomes uninhabitable. This type of insurance is affordable and essential, especially because roommates aren’t covered under the same policy, and each needs their own plan.

Auto Insurance Adjustments

If your child is taking a car to school, make sure to notify your insurer of the car's new location during the academic year. The location of the vehicle can affect insurance rates and might even open up eligibility for discounts, particularly for students maintaining good grades or those attending school more than 100 miles away from home without a car.

When Renters Insurance May Not Be Needed

For students housed on-campus, the need for renters insurance might be reduced. Many times, a parent's homeowners policy provides partial coverage, typically up to 10% of the personal property limit. Beware, though, as this coverage might be limited, especially when it comes to high-value electronics or costly items.

Other Coverages Worth Exploring

Explore additional coverage options that might benefit your student:

• Tuition Insurance: Provides financial protection in cases where unexpected withdrawals occur.
• Travel Insurance: Perfect for students planning to study abroad, covering unforeseen travel disruptions.

Insurance isn't the glitziest part of college preparation, but it's one of the most vital. A simple review of your current coverage or exploring new options might prevent costly surprises down the road. If you need assistance reviewing existing coverage or obtaining a renters insurance quote, reach out for help today.