As college students and their parents prepare for the new school year, it’s a good idea to review their insurance needs. While some students may be online-only and others may have a mix of online and in-person classes, all students and families should be prepared.
“This pandemic has changed so much of our lives, but it hasn’t changed the importance of an insurance audit with an independent agent. What worked last year might not work now,” said Michelle Hirsch, Senior Vice President of Brunswick Companies. “I really urge college students and their parents to begin reviewing their insurance coverage now.”
Here are some insurance tips for different types of coverages that relate to college:
Homeowners and Renters Insurance
- Parent’s policy: A student’s personal possessions may be covered by their parent’s homeowner’s insurance policy. For example books, a bicycle, computer, television, furniture, and even clothes could be covered in the event they’re damaged, destroyed, or stolen.
- Most policies will also offer liability coverage when your student lives in on-campus housing. Certain carriers will not provide personal property or liability coverage when the student lives in off-campus housing, parents should check with their agent to be certain.
- Renters insurance: For off-campus housing such a rented apartment, condo, or house, renters insurance might be the way to go to insure personal possessions. Renters insurance can also provide liability coverage in the event the student is held liable for causing bodily injury, property damage, or financial loss to others.
- Multiple roommates: When several students are signing the same lease, it is important to make sure all parents are on the same page. Do all parents’ policies extend or is each student purchasing a separate renter’s insurance policy to protect each family separately? If all names are listed on the lease, all students are liable.
- Vehicle at school: Talk to your agent if your student will have their car at school. If your student decides not to take a car to school, this may impact to your insurance premiums.
- Discounts: Some insurers might offer you discounts if your student has a GPA of 3.0+.
If you’d like to learn more about how Brunswick Companies can help you understand and secure the best insurance options for your family, give us a call at 800-686-8080 to speak to an agent today.