Insurance Declassified: L is for Living in a Dorm

You've watched your son or daughter grow over the past 18 or so years, and now it's time for their first taste of adulthood: college. This is an exciting and stressful time for everyone. So we've decided to try to help simplify a few aspects for you.

1. Is my child covered by my homeowner's or renter's policy while they're at school?
   • Yes! Your homeowner's policy is designed to provide full time students coverage while they are away at school. If your child was gifted any nice jewelry or a watch for their graduation you may want to schedule that item on your policy in case it is lost or stolen; it can then be replaced without paying your homeowner's or renter's deductible. Any other personal property would be subject to a deductible. If your child is attending school part time, or is over the age of 23, and not living at your residence you should consider a renter's policy for them
2. If my child is injured at school, how might my insurance respond?
   • If your child is injured in or by a vehicle while at school, you do have some medical coverage available under your auto policy. You may want to call your agent to confirm your limits. If they are injured at someone else's residence that could be submitted to the other party's renters or homeowners policy. If your child is responsible for the injury of another person, this can be submitted under your homeowner's or auto policy, depending on the specifics.
3. Are there any serious risks regarding my insurance that my child should be aware of?
   • Yes. Your child should be aware that posting negative comments on social media about a classmate or roommate can result in a personal injury suit. If you're not sure your homeowner's or renter's policy includes personal injury coverage, please contact your agent to make sure you have this important coverage. Another concern is liability or instances of negligence. Your child should be aware that their actions at school can have serious financial consequences in the event of a civil suit. Few young people consider the possibility of a friend's parents suing them, which can have serious consequences after an incident. We always recommend an Umbrella policy to help mitigate these concerns
4. How can insurance impact my child's student loans?.
   • If your child is taking out any loans we recommend securing a life insurance policy for your child. Making sure that your life insurance coverage is adequate and lists your child, or a trust, as a specific beneficiary is also crucial. In the event of the death of a loan's signer, some loans default immediately to the co-signer which makes an already unimaginable situation worse. By making sure your own life insurance policy is adequate, you can be sure that your child is taken care of in the event something happens to you. This is especially relevant for blended families, where a surviving spouse may not be related to the now adult child.
5. What is the number one thing you would stress to a child going to college?
   • Don't drive for Uber or Lyft! Your personal auto policy has an exclusion for operating one's vehicle for a fee. This can leave you extremely exposed in the event of an accident.

We wish all our clients the best of luck with their school year! Don't forget to let us know if your student will be attending school more than 100 miles from home without a vehicle, we can add a distant student discount to your policy!