College Student Insurance Coverage

student insurance
It can be overwhelming sending your child off to college for the first time. Alleviate some of your concerns by finding out what is covered under your existing insurance policies and what additional coverage you may need to purchase to provide protection for your child.

Home Insurance
If your college student is age 23 or younger, attends class full-time and was a relative of the household before moving to attend school, personal liability and med pay coverage will extend to them.Your child will have thesame liability limits as if they were still living in your home, but the coverage for their belongings will be limited to 10% of your total possessions coverage. For this reason, you may want to consider additional coverage if your child has a pricey computer or expensive electronic equipment. You may also need a different type of coverage if your child is living in an off-campus residence as your home insurance policy may not cover them. In this case, it may be a good idea to purchase renter’s insurance.

Auto Insurance
If the car goes with your child, does your auto insurance follow suit? The majority of students away at college are actually still residents of the parents’ home. Residency can mean that parents claim the student as a dependent, provide health insurance for them, students live there in the summer, get most of their mail there and so forth. Consequently, if it can be shown that a student’s primary residence is still their parent’s residence, then they are covered under your auto insurance – no age restriction.

Umbrella Insurance
Umbrella insurance is extra liability insurance. This type of insurance exists to help protect you from major claims and lawsuits. As a result, it helps protect your assets and your future. It does this in two ways: Provides additional liability coverage above the limits of your homeowners, auto, and other policies. So does this coverage extend to your kids when they go to college? When it comes to umbrella coverage, the definition “insured” is similar to auto insurance. A student who still utilizes parents’ home as primary residence is an insured party.

If you have more specific questions about what is covered under your existing policy, please contact PDCM Insurance for more information.

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