Types of Insurance that Your College Student Needs.
It’s almost back-to-school time, which means parents are busy buying their kids essentials for college life. From bed sheets to electronics to bicycles to textbooks, there are plenty of things to stock up on when heading off to college. However, you may be forgetting about an important item to review: insurance. It may be the last thing on your mind, but it can save your wallet when an accident or incident occurs. Consider these two protective policies.
On average, college students bring personal property that is worth anywhere between $5,000 and $10,000. If your child is living on campus in a dorm, most of their belongings should be covered by your existing homeowners or renters insurance policy. Make sure to check this with your insurer and ask if there are any coverage limits.
For students living off campus, you will need to purchase a separate renters insurance policy to protect their belongings and safeguard them from liability claims. Renters insurance covers a variety of situations like fire, theft, natural disasters, bodily liability, property damage, and loss of use. Talk to your trusted Tompkins Insurance advisor about how to secure this reliable coverage.
Another type of coverage that goes hand-in-hand with renters insurance is identity theft protection. This will help safeguard your student in the event they fall victim to identity fraud or theft.
If your child takes his or her vehicle to college, it’s important to make sure it’s properly insured. Contact us to find out how this may impact your coverage. Bear in mind that where the car is parked and located may affect coverage costs. If your child chooses to leave his or her car at home, consider keeping him or her on the auto policy. Continuous coverage can help them to secure preferred car insurance rates in the future, and they may want to use the vehicle when they come home for a break.
Get your college kid the protection that he or she deserves! Visit Tompkins Insurance for assistance in securing quality insurance policies before they head off to college.