With concerns involving various pandemic related health issues and even personal security issues, there are other protections you need to provide that are not usually on your college "back to school" list. Liabilities and risks can follow your child to the college campus and J.P. Perry Insurance suggests you consider four major insurance coverages to protect them away from home.
Renters' Insurance
Students tend to bring valuable electronic devices, laptops and personal items with them to college that would be costly to replace. If your student is living on campus in student housing, mostly likely your own homeowners' policy will cover the loss or theft of their personal property. But if your child is living in an apartment or home off campus, they will need to obtain a separate renters' insurance policy.
Personal Liability Insurance
This is coverage that is rarely considered by parents of college students. It is liability protection for you involving your child, particularly if your child is living off campus, even in a rented home or apartment. If someone injures himself or herself at your child's place, you could be subject to a lawsuit asking for compensation for medical expenses and emotional trauma. Instead of you having to pay these costs out of your own pocket, they most likely would be covered with a personal liability insurance policy.
Auto Insurance
Premiums for a student's auto insurance are based on many factors such as the child's age, gender, grades, type of car, miles driven, where on campus the car is parked, past driving record, credit card history, etc. So decisions need to be made about whether the student should have a car on campus. And a decision may have to be made as to whether the student should stay on the parents' insurance or have a separate policy.
Health Insurance
Children under 26 years of age living with their parent at home are covered under their parents' health insurance plan. But that may change if your child goes to a college in another state. You would need to know if your in-network providers are available in your child's college location. Before your child heads to college you need to check with your health insurance company to make sure you have coverage or whether you should investigate other healthcare options.
Your J.P. Perry agent can help you evaluate the various factors needed to adequately protect your child at school. Call your agent as your child heads back to college.