Insurance Coverage for University Students
As a parent, you’ve spent the last 18 years raising your child to be ready for these first steps into a life of their own. You want to make sure they’re fully protected as they start their journey into adulthood.
Auto Insurance
If your student doesn’t take a car to school, we recommend that you keep him listed on the policy for a number of reasons:
- They’ll be fully protected if he returns home for a weekend visit and wants to drive
- They’ll have insurance protection while driving a friend’s car while away
- They’ll be fully protected if hit by a car while walking or bicycling, or while being a passenge
- This maintains continuous insurance coverage
As a full-time student, your child may qualify for a Good Student Discount (if he maintains a grade average of 3.0 or higher). You can also apply for the Distant Student Discount if your child attends college 100 miles or more away from home.
If your student takes a car to school, they can still remain on your auto policy. Be sure to notify us about the new garaging address if so. If your student owns the vehicle and holds the title, they’ll need their own auto policy.
Full-time college students can usually remain covered on their parents’ auto policy if their primary address is the parents’ house, even if they attend college out of state. Make sure that the policy meets the minimum auto liability requirements for that state.
Homeowner’s or Renter’s Insurance
If your child continues to live in your household, his or her belongings are covered under your home insurance policy.
If your child stays in a dorm room on campus and you, the parents, have homeowner’s or renter’s insurance for your home, your insurance policy will extend to cover their belongings, up to a 10% limit of your personal property coverage.
Check with us to make sure the personal property limit on your homeowner’s policy is adequate. You might need additional coverage to insure expensive items like jewelry, musical instruments, or certain sports equipment. If they leave their belongings behind in a dorm for more than 45 days, your homeowners policy will no longer cover those belongings.
If your college student lives in his or her own place off-campus, or shares an off-campus house or apartment with friends, things get a little trickier. You might have to set up a separate renter’s policy for your student. That will not only cover his or her “stuff”, but also provide liability coverage in case somebody gets hurt in their place. These policies are usually quite affordable at less than $15 a month.
Related: Renter’s Insurance
Health Insurance
You’ll need to check with your health insurance provider to see if your child is still covered while in university. Here are some important points to consider:
- As a full time student, he or she may be covered up to a certain age limit in Nova Scotia
- If covered, be aware of how your coverage works in a different place
Depending on your child’s particular situation, there might be some other variables that need to be considered. This is where an independent insurance agency (like us) really comes in handy!