Adding Insurance to Your New College Student’s Back to School Checklist
As your kids are getting older, and beginning their freshman year at college, gone are the days of buying packs of crayons, tissue boxes for the classroom, and walking them in on their first day. Now your shopping list is looking more like buying new electronics, paying dorm dues, and setting up meal plans. This is a huge transition for not only your child, but for families as well. With all of the changes, it is easy to overlook changes that should be made in terms of insurance coverage. We are here to help, and provide you with your own insurance checklist to keep you organized, and ready for these big changes.
Since in most cases college students will be co-living either on campus in a dorm, or off campus in an apartment, it is important to make sure your child’s belongings are protected. Most living arrangements require students provide a renters’ insurance policy in order to be approved to live there. These policies cover those brand new laptops, televisions and other personal belongings. By investing in a great renters insurance policy, you are minimizing the impact of personal loss.
If your student is attending college in a different state or location, many insurance companies require you update the policy with the new zip code. Be sure to ask your insurance company if they offer any student discounts. Often insurance companies give discounts for good academic performance. If student discounts are offered, inform your child, and treat it as an incentive.
Many college campuses, and universities offer their own health plans to students as a convenience. These health plans are usually included in tuition dues. Definitely take some time to look over the insurance plans that are offered, and make sure the coverage is enough to keep your worries at bay. If the school offered health plans don’t meet your standards, you can continue using your personal health insurance policy.
Preparing your child to go away to college for the first time can be a scary, and proud moment. By adding insurance to your back to school checklist, you are one step closer to teaching your child how to be an adult, and ease your worries. If you have any questions about changing or adjusting your insurance policies to reflect your new college student, please don’t hesitate to reach out to Dave.