It’s almost time to pack bags and help those college children find their way around a dorm room. It’s an exciting time for them but can be a stressful time for parents! A few of the insurance issues you might want to be thinking about now include:
- Is my child’s personal property, including the computer, covered while away at college? In most cases a child is covered on your insurance policy as a member of the household. Insurance companies cover children away at school differently in some cases your child’s personal property would be covered under the conditions of your policy. Always check with your insurance company to see if your college student personal property is covered in a dorm room or other shared living situation.
- Will my child continue to be eligible for coverage on my health insurance? Health insurance plans provided as part of your employment benefits cover children, to the age of 18 or 21. In most cases your child can remain on the policy if they are full time college students until the age of 25 or 26. Parents will usually need to provide some kind of verification their child is attending school full time. Most companies will not add a child over the age of 18 back on a parent’s health insurance if they drop out of college or delay entry.
- Can I take my child off my auto insurance if they are going to college and don’t have a car? It’s very important to continue to insure your college student under your auto insurance policy. First of all there is always a chance your child might drive someone else’s car. It’s also important for their future and when they do get a car they will have a history of being insured. This history will help keep their insurance costs down.
Parents who send their student to college with a car might want to consider paying for a separate policy for their child. Since the car will be with the student full time it might be best to separate the student’s car from the parent’s household. It also makes it possible to show your child exactly what the insurance costs and how important it is.
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