Each fall, millions of people move close to their college campus to start school. Whether they move into a dorm, apartment or rental home, students must consider the importance of insurance.
Everything from their belongings to their healthcare to their liability for injury to others or damage to others’ property should be discussed with your insurance agent or broker. Typically, the parents’ homeowners insurance will cover a child away from home, but there are circumstances under which a child away at college might not have crucial insurance protection. If any kind of contract or lease will be signed, carefully review it for indemnity clauses that could put the student or parents on the hook for expenses not covered by a homeowners, condo or renters insurance policy.
Also, make sure you take a look at auto insurance coverage—even if your child doesn’t have a car at school. Not having a car doesn’t always mean there will be no driving.
