It’s almost time to go back to school, and while there’s a mile-long checklist of things to get in order, don’t let insurance fall by the wayside.
Back to school season is actually a great time to be thinking about car insurance. Did anyone get their license this year? First year driving to high school by themselves? Check your coverage and see if they qualify for a student discount. These discounts vary by carrier and may be offered to students who maintain a certain GPA (good for college kids too!)
If your student is going to be living at their school far away, don’t necessarily rush to cancel their auto insurance. If there’s a chance they’ll be driving someone else’s vehicle, they’ll still need that coverage. This also applies when they come home for a weekend or a break and need to drive. Some insurance policies will significantly reduce rates for a driver in college who goes to school over 100 miles away and leaves their car at home. Keeping a college student on an auto policy will also help them build a history of uninterrupted insurance coverage, leading to better future rates. Be sure to inform us of your student’s status and information to make sure everything is accurate and you’re receiving all available discounts.
Personal Property & Belongings
If you have a student living away at college, your homeowners policy most likely has coverage for personal property. This is focused on the belongings in your home but also applies to items taken elsewhere. The coverage for belongings outside of the home is typically 10 percent of the overall personal property coverage, meaning if your belongings are insured for $300,000, then items taken elsewhere would be insured up to $30,000. This may mean that some of your student’s possessions may be protected against damage and theft while in the dorm. If your student is living off-campus this should still apply, but be sure to ask about your specific policy. Some of the items brought to school may not be covered by a standard policy, as some high-value items like art and jewelry are excluded. Check your policy to see exclusions, but know that excluded items can still be covered by adding a rider.
Since kids can stay on their parent’s health insurance until age 26, health insurance generally falls to the parents. There are however a couple things to think about. While not common, some health insurance policies have geographic limitations which could cause coverage to lapse if an insured were to move far enough away for school.
If you have a student who will be studying abroad, you definitely want to check your insurance policies! Typically, health insurance won’t provide coverage in another country, and if it does, coverage is specific and highly reduced. Student Health or Student Travel Health insurance can keep your student protected during their trip. These policies can range from yearly contracts paid monthly to five-day up-front payments and cover the medical costs you’d expect from health insurance. Comparable plans may also be offered by your student’s school.
Be sure to check your over your policies before sending your student back to school, particularly those heading to college! As always, if you have any questions, please don’t hesitate to reach out to your dedicated client manager.
Vice President | Director of Personal Insurance
Janet is a Vice President at RogersGray Insurance and the Director of Personal Insurance. As Director of Personal Insurance, Janet oversees a team of more than 80 dedicated personnel in both sales and service. Janet resides on Cape Cod with her husband. You can connect with Janet on LinkedIn or by email.