Preparing a child for college comes with a long checklist. There is housing to arrange, supplies to shop for, and boxes to pack. As exciting as this milestone can be, one important item should also be on the list: reviewing insurance.
During this time of year our Personal Insurance team has conversations with parents preparing for college. From dorm rooms to apartments and vehicles on campus, many of the same questions come up each year. Understanding those questions before move in day can help families make informed decisions.
“Will my student’s belongings still be covered?”
This is one of the first questions the team hears every August.
For many families, a homeowners policy may provide some coverage for a student’s personal belongings while they are living in a dorm room. However, coverage depends on the policy and may include deductibles, coverage limits, or special considerations for valuable items such as laptops, bicycles, jewelry, and other electronics.
“Most homeowners insurance policies extend liability coverage as well as a percentage of the personal property limit to cover a student away at college,” Kim Howard says. “Parents are often pleasantly surprised to learn they may already have coverage.”
Before your student leaves, make a list of valuable items they’re taking to school and ask how your policy applies to those belongings.
“Do we need renters insurance?”
This is a common question and the answer often depends on where your student lives.
A student living in a dorm may have different insurance considerations than a student renting an apartment or house. In many cases, apartment communities require renters insurance before move in.
“Many apartment complexes offer renters insurance through the lease,” Kim Howard explains. “Those policies often provide only minimal liability or personal property coverage. It’s worth reviewing the options to understand what protection is available.”
We also encourage parents to have each student living with roommates carry their own renters policy rather than sharing one. Having individual policies can provide each student with their own liability protection and coverage for personal belongings.
If your student will be living off campus, review the lease before move in day and ask whether renters insurance is required and what coverage is included.
“What if my student is taking a car to school?”
Parents often ask whether their student’s vehicle will still be covered while away at school or whether they qualify for a student away at school discount.
We encourage families to let their advisor know where the vehicle will primarily be kept during the school year.
“If your child is taking a car with them, be sure to provide the garaging ZIP code. That information helps your advisor review how your coverage applies.”
Dawn Rosenberg also reminds families that if they choose a student away at school discount because their child is not taking a vehicle to campus, it is important to understand how that decision may affect other driving situations. For example, if the student drives someone else’s vehicle, coverage may be limited to what the vehicle owner’s policy provides. Those limits may be lower than expected or there may be no coverage available.
Let your insurance advisor know whether your student is taking a vehicle to school, where it will be kept, and whether their driving habits have changed.
“Do we need to review this every year?”
The answer is yes.
The first year of college often receives the most attention, but returning students may experience changes that deserve another look.
A student who lived in a dorm may move into an apartment. They may begin working more hours, take fewer classes, or change where they keep their vehicle during the school year. While these changes may seem routine, they can affect how insurance applies.
Dawn Rosenberg has seen families caught off guard when a student over age 21 is no longer attending college full time.
“If a student over 21 is no longer a full time student, they may no longer meet the policy definition of a family resident,” Dawn explains. “Depending on the policy, that could affect homeowners or auto insurance coverage.”
If your student’s living situation, school enrollment, or transportation changes from one school year to the next, let your insurance advisor know.
We’re Here for You
Every family and every insurance policy is different. Taking a few minutes to discuss your student’s living arrangements, belongings, and transportation with your insurance advisor can provide greater confidence before move in day.
If your child is heading to college this fall, FNIC’s Personal Insurance team is here to answer your questions and help you understand how your coverage applies to your family’s situation.
