College is an exciting time for students. But for parents, it can be a little stressful. Here at KW, we want to make sure insurance isn’t something you have to worry about, which is why we put together some important tips for parents and students to consider as they prepare to head out to school.
Home Insurance and Personal Belongings
If your child will be living in a dorm, your home insurance policy can cover their belongings. Before you assume everything will be covered, it’s important to go over a few details with your independent insurance agent. Here are some questions to ask:
- Is my “Personal Property Coverage” enough to cover my kid’s belongings?
- Do I need to purchase additional insurance for items like a laptop or other expensive electronics?
- Are there any restrictions, like location or age restrictions, that I should know about with my insurance policy?
If this is the year when your child will be moving into their own apartment, they should definitely purchase a renters insurance policy. A renters insurance policy not only provides protection for their belongings, it also provides liability protection in case someone is injured in their apartment while also providing coverage for additional living expenses. This additional living expenses coverage can come in handy if you are forced to vacate your home due to a covered loss, like a fire. You can be reimbursed for expenses like hotel bills during the period of time when you are unable to live in your apartment.
It’s a good idea to leave your child on your car insurance policy, even if they are not planning to take a car to school with them. Here are some tips for specific situations:
- If your child is not taking a car to school with them, you should still consider leaving them on your policy. This will ensure that they are covered when they come home and borrow your car or if they borrow a friend’s car while they are away at school.
- If your child will be taking a car to school with them, make sure to tell your insurance agent about the change of garaging address. Your policy may need to be adjusted based on state requirements.
- If your child is buying their own car and will have the title in their own name, they will need to purchase their own car insurance policy.
You have enough to worry about when it comes to sending your child off to college. Let a KW Insurance agent help you answer these questions and make sure your insurance needs are met when your teenager heads off to college — give us a call at 781.751.9080 (Dedham) or 617.492.4150 (Cambridge) or visit our website to learn more about what you need to do to make sure your child is protected while they are away at school.