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A Short Course on Insurance and School
Sending a child off to boarding school or college can be an exciting and emotional time. There are lots of things to think about and plan for. But we can help you check one major concern off your list: insurance.
Car insurance. If your child is going to school more than 100 miles away and does not take a car, let us know because you probably can get a credit on your car insurance premium. If your child takes a car to school, you also need to let us know so that we can update your coverage with your carrier.
Property insurance. If your child is in high school or is an undergraduate, the child’s property is covered under your homeowner’s policy; you do not need to buy special dorm insurance if the student lives in the dorm. You also don’t need separate rental coverage if your student lives in a unit. Losses are subject to the deductible on your homeowner’s policy, but it is possible to extend first-dollar coverage for items such as laptops and tablets.
Liability coverage. If you are concerned about liability, you can get a liability extension on your homeowner's and personal umbrella policy while your student is away at school.
Graduates. If your student has graduated, has a job and is self-supporting, he or she is responsible for getting coverage; your policies no longer apply. But if you still are paying a significant amount of your child’s expenses – such as if he or she is in graduate school -- you might be able to extend coverage through your policies. Some companies are eliminating this coverage extension for students age 25 and over, so please contact our office so we can confirm the right coverage for your specific situation.
The bottom line. Before your student heads to campus, give us a call. We can work with you and your carrier to find the solution that is most cost-effective for you and your student.
We are always happy to discuss these and any other insurance questions you might have. Just contact us at 847-572-0820 or firstname.lastname@example.org.