With school starting for many families – and the expenses that come with the start of school – many are looking for ways to save some extra money. One possibly place is with your college aged drivers.
That’s right – there might be some potential saving from your college student. How you ask?? Many insurance carriers have a “special” rating that is available for students that are away at college without a vehicle. If your student is heading off to college and will NOT be bringing a vehicle along with them, you may be eligible for some savings on your auto insurance. Not all carriers provide this discount, but I would recommend you give your agent a call to see what discounts might be available for your family.
The other thing you want to consider when sending your student off to college is coverage for their “personal property” . Personal property includes all their “stuff” – like clothes, books, electronics – including computers. It is important to check with your agent concerning coverage for these items. Under most homeowners policies your students “stuff” would be covered while they are away at college. But many have exclusions, and or limitations depending on different factors.
One factor deals with whether your student is staying in a dorm, or living in a apartment off campus. Some carriers will provide coverage under your homeowners policy if the student is staying in a dorm, but if they are living in a apartment off campus, some carriers are NOT covering personal property under the parents homeowners policy. In that case you would have to get a separate “renters” insurance policy to cover your students “stuff”.
There are so many thing to think about as your student is heading back to school that insurance coverage is usually the last thing that comes to your mind. I encourage you to check with your agent concerning the issues we spoke about above. And give us some feedback below on how your carrier covers these situations!!
