Sending Your Student Off to College? Here’s What Parents Should Know About Insurance
Sending your child off to college or university is an exciting milestone—and a busy one! Between tuition, textbooks, housing, transportation, and packing everything they’ll need for the year, insurance may not be at the top of your list.
But before move-in day arrives, it’s worth taking a few minutes to review your coverage and understand how your student’s new living arrangements could affect their insurance needs.
Whether they’re moving into residence, renting an apartment, or sharing a house with roommates, a quick conversation with your insurance broker can help make sure you know what’s covered.
Will Your Home Insurance Cover Your Student’s Belongings?
In many cases, a student who attends college or university full-time may continue to have coverage under their parents’ home insurance policy while living away at school.
Depending on the policy and circumstances, coverage may extend to belongings such as:
- Clothing and personal items
- Laptops, tablets, and other electronics
- Furniture
- Textbooks and school supplies
- Bicycles and sports equipment
- Other personal belongings
However, coverage isn’t automatically the same for every student or every policy. Limits, conditions, and exclusions can vary.
Things such as your child’s student status, financial dependency, living arrangements, and primary residence may all play a role in determining whether your existing coverage applies.
Before your student leaves, check with your insurance broker to confirm exactly what is covered.
If your child has established their own primary residence or no longer meets the requirements to be considered a dependent student, they may need a separate tenants insurance policy.
What If Your Student Is Renting?
If your student is moving into a rented apartment, house, or other accommodation, tenants insurance can provide an important layer of protection.
While tenants insurance may not be legally required, a landlord can require it as part of the rental agreement.
A typical tenants policy may include coverage for:
Personal Belongings
If your student’s belongings are damaged or stolen as a result of a covered loss, their policy may help pay to repair or replace those items, subject to the policy’s limits and conditions.
Personal Liability
Accidents happen. Liability coverage can help protect your student if they are found legally responsible for injuring someone or damaging someone else’s property.
Additional Living Expenses
If a covered loss makes the rental temporarily unlivable, additional living expenses coverage may help with eligible costs while repairs are being completed.
Certain Damage to the Rental
Depending on the policy, coverage may also be available for certain accidental damage your student causes to the rental property.
If your student is bringing expensive items to school—such as musical instruments, collectibles, artwork, specialized sporting equipment, or other valuables—be sure to mention them to your broker. Additional coverage or higher limits may be recommended.
What Happens When Their Belongings Leave Home?
A student’s belongings don’t stay in their room all year.
Their laptop may go to class, a bicycle may be left on campus, sporting equipment may be taken to practice, and electronics may travel home during school breaks.
Personal property coverage can sometimes extend beyond the student’s residence, but specific restrictions, limits, and exclusions may apply.
What If They Have Roommates?
Living with roommates can make student housing more affordable, but it can also create insurance questions.
Your student’s insurance policy generally protects your student’s belongings and liability. Having one roommate insured does not necessarily mean the other roommates are covered.
Each roommate should speak with an insurance professional about their individual needs.
Before signing a lease, it’s also worth discussing responsibilities with the landlord and roommates so everyone understands who is responsible for the rental, shared property, and potential damage.
Students Living in Residence
Students living in a university or college residence may have different insurance needs than those renting an apartment or house.
In some circumstances, a student’s belongings may continue to be covered under their parents’ home insurance policy while they live in residence. However, the amount and type of coverage available can vary significantly between policies.
Rather than making assumptions, contact your broker before your student moves in. They can help confirm whether your existing policy provides coverage and whether additional protection may be appropriate.
Don’t Forget About the Car
If your student is taking a vehicle with them to school—or will continue to drive a family vehicle while they’re away—your broker should know.
Where the vehicle is primarily kept and how frequently it is driven can affect your auto insurance.
If the vehicle stays at home and your student only drives it when they return for holidays or school breaks, they may be able to remain listed as an occasional driver, depending on the circumstances and your insurer’s requirements.
Some insurers may also offer discounts for students who live away from home and have limited or no regular access to a vehicle.
If your student is taking a vehicle with them to school, let your broker know so your policy can be reviewed.
A Quick Insurance Checklist Before They Leave
Before your student heads off to school, take a few minutes to review:
- Where they’ll be living
- Whether they’ll be in residence or renting
- What belongings they’re taking with them
- Whether they have any high-value items
- Whether they’ll have access to or take a vehicle
- How often they’ll return home
- Whether they’ll have roommates
- Whether your current home insurance continues to cover them while they’re away
A short conversation with your insurance broker can help identify potential gaps and clarify whether additional coverage is needed.
Heading Off to School? Let’s Make Insurance One Less Thing to Worry About.
Sending your child off to college or university comes with plenty of planning. Insurance may not be the most exciting item on the checklist, but it’s one that’s worth getting right.
Our team can review your existing coverage, answer questions about your student’s housing and belongings, and help you understand what protection is available while they’re away from home.
Get in touch with us today to review your coverage or request an insurance quote before the school year begins.