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Heading back to college? Here’s what you need to know about insurance.

Auto insurance while away at college

It’s a good idea to remain listed on your parents’ policy even while you are living away from home. This ensures that you are covered while home on breaks, driving a friend’s car at school, allowing a friend to borrow your vehicle, or if you are a passenger or pedestrian.

Parents: There may be ways to save on premium while your child is away at school, such as good student discounts or changing their driving status on the policy. Ask your agent what specific discount your insurance carrier may offer.

Renters insurance for college students

If you are living in on-campus housing, you are most likely covered under your parents’ homeowners or renter’s policy, but it’s a good idea to check with your agent before moving into school.

If you live off-campus, a renter’s policy is a good investment to protect personal property such as electronics, textbooks, and furniture in the event they are damaged, destroyed, or stolen. It also protects you if someone is injured at your apartment or house. Renters insurance policies are usually very budget friendly and protect you when your landlord’s insurance doesn’t.

If you are renting off-campus and have an expensive piece of property such as jewelry, fine art, or even golf clubs, those can be added to your policy with a “rider” or “floater” for an additional cost.

Greek Life Students: Are you covered in your sorority or fraternity house?

Most sorority and fraternity organizations carry some sort of general liability insurance; however, only certain incidents are covered. It’s a good idea for students living in these houses to purchase a renter’s policy to cover their belongings from damage or theft.

Policies for parents

The purchase of an umbrella policy for parents with children away at college provides an extra layer of coverage to protect your assets. Liability claims lurk around every corner in a college environment, whether they live on campus or off, have a car at school or don’t. Contact an agent at Avery Insurance to learn more about the importance of an umbrella policy.

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