As a new school year begins, parents and guardians often find themselves caught in the whirlwind of sending their children off to college. From packing to planning and paperwork, it's easy to overlook the importance of insurance amidst the excitement and anxiety. While often underrated, ensuring the right coverage is in place can safeguard your student's well-being and provide financial stability for your family.

Health Insurance Review

Before the semester starts, take a moment to review your health insurance coverage. Confirm whether your current plan includes providers near your child's campus. Compare it with any school-sponsored options available, as these might offer better local access. Proper health coverage ensures your student can receive the care they need without additional stress or expense.

Renters Insurance for Off-Campus Living

For those students venturing into off-campus housing, renters insurance is a critical consideration. Landlord policies typically don't cover personal belongings or liabilities. Renters insurance can also aid in covering living expenses if a rental unit becomes uninhabitable. This coverage is generally affordable and ensures each roommate has their own policy to avoid coverage gaps.

Auto Insurance Adjustments

If your student is taking a vehicle to college, notify your insurer of the car’s new location. A change in location can affect insurance rates and may offer eligibility for discounts. Keeping your auto insurance information up-to-date is crucial to maintain the necessary coverage.

When Renters Insurance May Not Be Needed

For students residing in on-campus housing, it's worth checking your homeowner’s insurance policy. Often, they provide partial coverage for students' belongings, typically up to 10% of the personal property limit. However, be cautious; coverage for high-value electronics or other costly items might be limited.

Other Coverages Worth Exploring

Aside from the basics, there are other insurance options to consider. Tuition insurance can offer protection against unexpected withdrawals, while travel insurance is wise for those planning to study abroad. While insurance may not top the list of exciting college preparations, it's essential for peace of mind. Take a moment to review your policies or explore new options to avoid costly surprises later. If you need help reviewing coverage or would like a renters insurance quote, don't hesitate to reach out.