College Advice Blog

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Jan 29, 2013

How to Insure Your Son or Daughter for College

Car wreck Sending your kid off to school for the first time is stressful! Even more stressful can be making sure they are properly insured. Check out the following ways you can keep your child safe and secure during the next four years:

 

Health

In 2010, the rules for insuring your child for college changed slightly. Even if your incoming freshman is older than 18, he or she can remain on your family health plan. Healthcare reform allows children under the age of 26 to stay insured through their parents. If your plan has been grandfathered in, your son or daughter may not qualify until 2014. In cases like these, you should seek health insurance either through your child’s school or from a private company.


Car

If you’re looking for the cheapest way to insure your child as a driver, then you might just want to consider asking your college-bound child to leave the car at home. Plenty of colleges and universities have access to excellent public transportation, so a car is frequently unnecessary. However, if your son or daughter needs a vehicle to get around town, then you need to look to other means for saving money on your premiums.

Kids attending school in state can generally stay on their parents’ auto insurance policies. This is good news. Insuring multiple household vehicles with the same insurance policy is a good way to get a discount on your premium. Your child can qualify for additional savings by getting good grades or taking a defensive driving course, so if he or she needs to purchase a separate policy, discounts are available.

 

Property

New laptops don’t come cheap, and it would be a shame to lose expensive electronics due to theft or fire. Your child probably is leaving for school with a cartload of expensive items. Students have computers, printers, stereos, musical instruments, speakers and plenty more high-value belongings. Unfortunately, these belongings are at risk. Even highly selective schools aren’t immune to theft and other covered incidents that threaten the safety of your child’s belongings.

Your home insurance might be what it takes to keep these items safe. If your college-bound student is going to school full-time, living on campus and lists your residence as her or her permanent address, you’re probably in luck. The property protection included in your homeowners insurance also could cover your child’s belongings. You might want to consider purchasing additional coverage, however. If your son or daughter owns particularly pricy items, you should think about scheduling an endorsement.

 

Liability

Depending on your kid, you may or may not consider liability insurance a must. For parents of troublemakers, liability can often come in handy. If your child hasn’t committed a crime and isn’t getting sued, his or her mishaps are probably covered by the liability portion of your homeowners insurance policy. Qualifying for this coverage is similar to property protection; your child must be a full-time student, living at school and listing your home as his or her permanent address.

Give your child the peace of mind necessary at college so that he or she can concentrate on studying instead of worrying about health, auto or other kinds of insurance coverage. Insurance doesn’t have to be a hassle. Get it out of the way ahead of time and you can rest a little easier, knowing that your child is protected at school.

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About the Author
Shannon Casey, is a writer with a background in comedy and playwriting, Shannon branched into blogging and marketing in 2011, writing for several national brands. She graduated from Hampshire College in Amherst, MA, in 2010 with a B.A. in Liberal Arts.
 

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