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College Student Insurance Questions | Boynton & Boynton
The days when a departing college student would load up the family car with a couple of boxes are gone. These days, students bring computers, T.V.’s, cell phones, bicycles, and other digital devices into their new dorms. Even if your child is incredibly responsible, the truth of the matter is, they are likely to forget to lock their dorm room door on at least one occasion, possibly causing their laptop could get stolen. Or they may walk away from their desk while in the library to come back to find their belongings missing. Or somebody burning food could cause the sprinklers to go off, damaging their cellphone and computer. The number of scenarios goes on.

The Insurance Information Institute (III) recommends creating a “dorm inventory.” Simply put, keep a list of all of the items the student will bring to school, along with their estimated value. Below are some Homeowners’ and Auto insurance questions that typically arise when a student leaves home for college.

Will my Homeowners’ policy provide coverage for college students?

Parent’s Homeowners’ insurance policies do provide limited coverage for a student who is away at school. The ISO form HO 00 03 extends the definition of “insured” to:

“A student enrolled in school full time, as defined by the school, who was a resident of your household before moving out to attend school, provided the student is under the age of 24 and your relative; or 21 and in your care or the care of your residents of your household who are relatives.”

This is an area where parents need to be careful. A student can start a term as a full-time student, but drop a couple classes over the semester, technically qualifying them as part time. Or a student can turn 24 years old during the semester or be in grad school, at which point coverage would no longer apply.

What type of insurance coverage is provided for college students?

These are coverages that are extended to applicable college students under a Homeowners’ policy:

1. Coverage C – Personal Property. This provides coverage for personal property owned or used by an insured while it is outside of the home. However, the limit of insurance is 10% of the Coverage C limit for personal property in the Homeowners’ policy, or $1,000, whichever is greater. Note that coverage does not apply if the student’s dorm has been unoccupied for more than 60 consecutive days. If the student leaves his belongings in his dorm room over the summer, and comes back to find his television missing, coverage would not apply.

2. Coverage E – Personal Liability. This covers the student for legal defense costs or coverage from an accident (excluding auto, boat or aircraft) that causes bodily injury or property damage.

3. Coverage F – Medical Payments. This provides for the medical expenses of others because of bodily injury occurring at the student’s dwelling.

What if the student lives off campus?

If the student doesn’t live in college-owned housing, your Homeowners’ policy may not provide coverage. According to TrustedChoice.com, insurance issues arise depending on if the student is in a dorm, rented house or apartment. “These variables, especially for older students, can impact your current protection and dictate a need to modify your policy or purchase a new one.” It is also important to find out how many roommates the student will have. Insurance companies need to know this for coverage considerations. To avoid on-again/off-again insurance issues, a separate Renters’ policy for college students may be necessary.

What if my student is taking a car to college?

Your insurance agent should be made aware of the new garaging address of the car. If the student attends college in a less populated area than their home, it may reduce the rate of the policy. You should also find out how coverage is affected by change of address and ensure that the minimum auto liability is met, particularly when a student attends college out of state.

If the student is not taking a car to school, it may not be the best choice to remove the child from an existing Auto policy to reduce cost. Keeping the child listed on the Auto policy ensures coverage during school breaks, and while he or she drives a friend’s car at school.

If you have any questions about your students insurance coverage, contact our insurance professionals today.

What insurance does my college student need | Boynton & Boynton

Sources: propertycasualty360.com “Animal house: 4 insurance issues that arise when kids go to college

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