As parents and guardians, the whirlwind of preparing to send a student off to college—packing their belongings, planning itineraries, and tackling paperwork—can be both exciting and overwhelming. But in the midst of this frenzy, one critical aspect that often goes overlooked is insurance. Now more than ever, understanding the key insurance decisions can safeguard your student’s well-being and protect your family’s financial stability.

Health Insurance Review

One essential step is to revisit your health insurance coverage. Ensure your health plan includes providers near the college campus. In some cases, school-sponsored health plans might offer better local access, so it may be worth comparing these options to secure the best care for your student.

Renters Insurance for Off-Campus Living

If your child is living off-campus, renters insurance becomes a necessity. Many are unaware that landlord policies do not cover personal belongings or liabilities. Renters insurance not only covers these but can also provide living expenses if the rental property becomes uninhabitable. Generally affordable, it’s important to note that policies are individualized—roommates will need separate coverage.

Auto Insurance Adjustments

Remember to update your auto insurer about the car’s new location during the school year. The car’s location can affect insurance rates and may even make your student eligible for discounts. Keeping the insurer informed avoids complications down the road.

When Renters Insurance May Not Be Needed

Students residing in on-campus housing may benefit from partial coverage through a parent’s homeowners policy—often up to 10% of the personal property limit. However, it’s critical to understand that this coverage is often limited, especially when it comes to high-value electronics or costly items.

Other Coverages Worth Exploring

Aside from the basics, there are other valuable insurances to consider. Tuition insurance can protect against significant financial losses should your student withdraw unexpectedly. For those planning to study abroad, travel insurance can provide peace of mind.

Though insurance might not be the most thrilling aspect of college preparation, it is undeniably among the most important. We encourage you to take a moment to review your current policies—or explore new options—to steer clear of any costly surprises. If you need help reviewing coverage or are interested in obtaining a renters insurance quote, don’t hesitate to reach out.