The school year is fast approaching (we know, we’re sad, too) and in college that means moving from mom and dad’s basement to either a dorm room or an apartment. Heading off to college for the first time is exciting, emotional and, above all else, stressful. Have you packed everything you’re going to need for this semester? Is your roommate going to be tolerable? Will you make any friends the first week of college? Do you have the necessary insurance? Will your parents allow you to stay on the family’s auto policy?
Yes, insurance is still very important while you are away at college. If you take your car to college it is important to keep it insured. College parking lots are filled with many 18 to 24 year old drivers. Door dents and fender benders are bound to happen. However, if you leave your car at home to avoid paying for a parking pass and becoming everyone’s favorite chauffeur, should you still keep it insured? Leaving your car at home isn’t uncommon. Most students don’t bring their car their first year! Public transportation is made available on most campuses and being forced to walk to class can help you to get your steps in and keep the Freshman 15 at bay.
Here are a few tips regarding automobile insurance…
- If you do bring your car to school something to look out for is a “good student” discount. Most of iSchuring’s insurance companies offer discounts for students. There are qualifications for this kind of discount, so it is important to understand what is necessary to receive this discount. Some insurance carriers require your transcript or signatures from your school as well.
- If you leave your car at home you may be eligible for savings on your automobile insurance policy, as you won’t be driving your car daily anymore. One of iSchuring’s companies has a “student away at school” discount. It would reduce the rate of your auto policy for the car you would normally drive. This way, you don’t need to be removed entirely from the policy and you can still drive your car when you come home for long holiday breaks. Also, if you drive someone else’s car while away at school, you will still have auto liability coverage to protect yourself.
While your car would likely be the largest thing you bring with you to college, it is far from the only thing you’re bringing. While a dorm room is typically only 12x12 you will somehow find a way to fit everything you own (and everything your roommate owns) into that tiny excuse for a bedroom. Laptops, gaming equipment, jewelry, clothing, décor and expensive textbooks could all be at risk, whether this risk is theft or damage. Do you have coverage for these items while you are at school?
Here are a few tips regarding your personal belongings…
- While in the process of moving into your dorm room, create an inventory. This will help you keep track of what you brought with you and also the value of your items.
- While your parent’s homeowner’s policy may extend some personal property coverage to you, you may want to discuss what coverage you have with your agent. An iSCHURING agent can help you determine what you specifically need.
- Something to consider is a renter’s policy, especially if you are changing your address to your dorm room or apartment. These policies will protect your personal items in your room and also provide some personal liability, and are an affordable option.
Another topic you may want to bring up with your iSCHURING agent is whether or not you should stay on mom and dad’s health insurance plan.
Here are a few tips regarding health insurance…
- The Affordable Care Act allows your parents to keep you on the family health insurance plan until you turn 26. In most situations it may make the most sense to stay on your family’s health insurance plan.
- If you move across the state or country you may no longer have access to network doctors, and this is a situation where it may make more sense to get off your family’s plan and secure your own coverage. With the Affordable Care Act there are subsidies that are available to college students that will make plans with affordable premiums available to you.
So while you are preparing for all that college has to offer, remember to prepare for both the positive and the negative! An iSchuring agent would love to help you find the right coverage for your first steps towards adulthood.