From Home to Dorm: Navigating Insurance Coverage for your College Student

It's that time of year! Parents: you may be remembering your own inaugural journey to a college campus far, far away — as you prepare your own son or daughter for imminent departure into an unfamiliar universe. You may already feel like you are careening through a veritable asteroid belt of urgent priorities — checklists, dorm requirements, aid applications, medical forms, roommate concerns, and the ever stressful “what stays and what goes.”

We suggest you schedule a review of your student’s “away at school” insurance needs. Here are but a few of the questions every parent and student should consider: 

• How will your homeowners insurance respond for a personal property loss at college? Packing for school once meant a few boxes and a suitcase, but moving on today’s campuses typically involves trucks and trailers. How much will your student cart off to their dorm or apartment? Will it be properly covered for such losses as theft or fire, or will adequate coverage require endorsements or even a separate policy?
• Will your student take a car to college? If so, who owns it? Where will it be garaged? Who will drive it? Should you change the location address on your current policy for that vehicle to the school location? How will this change affect your current policy? How will your current auto policy respond if your student’s roommate has an accident while borrowing your student’s car? What if your student is borrowing a roommate’s car?
• Will your student live on or off campus? In a dorm, apartment or rented house? These variables, especially for older students, can impact your current protection and dictate a need to modify your policy or purchase a new one. For many insurance companies, there are also underwriting and coverage considerations based upon how many roommates will share your student’s humble abode.
• What about liability protection? Yours as well as your student’s? A multitude of liability issues may arise from a family member living elsewhere. Some are common to any such arrangement, but others are unique to college students and their parents. Even when students are otherwise of legally independent age, can parents still face liability for the student’s actions while away?
• How will your current health insurance apply at college? Will there be “in-network” professionals and facilities available locally? Does the college have its own infirmary, pharmacy or hospital facilities? Will your current plan cover their services? Are student insurance plans available, especially for activities like organized sports? Is it advisable to take advantage of them, regardless of your current coverage? Are there eligibility issues, especially if your student is older, is disabled, gets a full-time job or gets married? (We do not handle health insurance coverage but understand that this is also an important topic).

During your review you’ll find answers, experienced advice and options for those areas not already adequately addressed by your current coverage. Then, should claim time ever come, you’ll be relieved to find yourself protected.