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Must-Know: Insuring Your New College Student

Saying goodbye and sending your child off to college can be both an overwhelming and exciting experience. While you may think all the worries are off your plate as you become an empty nester, you must remember the insurance requirements of your new college student’s big move. Are they properly insured? Gathered is some must-know information regarding insuring your new college kid:

  • College students that choose to live the dorm life are typically covered under their parents’ standard homeowners’ insurance policy. Your child will receive a limited amount of coverage for their personal belongings while living in any campus-owned facility.
  • However, if your child chooses the more independent route and lives in a local apartment, they will need to purchase a renters’ insurance policy to receive coverage. A renters’ insurance policy is one of the least expensive insurance policies, ranging about $15-$20 per month. This insurance policy will provide your child with coverage for their personal belongings.
  • If your child decides to bring their car with them as they travel across the county to attend a university, you will need to inform your auto insurance carrier. Each state has unique coverage requirements, and they may need to alter their existing auto insurance policy.
  • College students that choose to leave their car homes and use public transportation at their university may be eligible to receive a discount. The resident student discount is often available to those who do not use their vehicle for a temporary period of time.
  • Raise incentives to receive good grades by telling your new college student that they will only receive auto insurance coverage if they maintain their grades. The good student discount is available to those who maintain a B average or 3.0GPA.

We wish your new college student a successful year! Contact Michelle Lim Insurance Services for all of your California insurance needs. Located in Alhambra but serving all of California, we can help provide your new college student with guaranteed security.

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