how is my insurance affected when my child goes to college - Spencer Insurance Agency, Inc

Child Leaving for College

college packing  (Note: forward this to someone you know who has a child going to college!)

Congratulation on your child’s achievement!  As you prepare to send your child to college let’s review some important items.

Is their “stuff” covered while at a dorm or off campus apartment?

Generally, as long as your child is a full time student, was a resident of your house before moving to college, and is under age 24 there is some coverage for the students “stuff” while they are away at school. However, that coverage is generally limited to 10% of your contents (Coverage C) on your homeowner’s policy. For example, if the contents limit on your policy is $140,000, your child would have $14,000 of coverage for the “stuff” in his dorm room. Consider purchasing a renter’s insurance policy. There are limitations on certain items including computers, jewelry, musical instruments and collectibles.  If your child is taking any of these items with them to school, give us a call to review.

What if my child has a roommate and they buy “stuff” together?

In this situation you should consider a Renter’s policy to cover both your child’s and roommate’s stuff.  As long as both children are on the lease most companies will write one renter’s policy covering both children.  Call us to discuss your situation.

How does my child going to college affect my car insurance policy?

If you have a student away at a college that is over 100 miles and they do not have a car with them, we can add a discount for “Child Away at School.”  If your child is taking their car to a college that is in the same state you reside, then we may be able to rate the car as being “garaged” at the college, rather than your household.  If the collage is out of state, however, it would need to remain as rated at your home address.

If you have any questions, give us a call and discuss your situation with our experienced staff.

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