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Student Insurance: Do you fully understand the needs of a new freshman?

Personal Insurance

A lot of things change for college freshmen. Many are living on their own for the first time and taking those first tentative steps into adulthood. This means their insurance needs are changing, as well. As a parent, you need to understand the ins and outs of student insurance so you can help your child obtain sufficient coverage.

Student Insurance Tip 1: Protect Your Child’s Possessions

Insurance carriers often classify dorm rooms as extensions of the home and include them in home insurance policies. Therefore, your standard coverage will probably protect your son or daughter’s belongings for the most part. However, suppose your child has an expensive computer or pricey furniture. In that case, you should think about buying additional insurance protection such as an umbrella policy.

If your child opts for off-campus living, then your home insurance might not offer coverage. Instead, you could buy renter’s insurance. For as little as $15 per month, these policies protect items in rented apartments, condos, or houses and offer liability coverage if someone gets injured on the property.

MTG Insurance | Student Insurance | College Freshman | Murray State | WKU

Student Insurance Tip 2: Keep Your College Student Healthy

Many full-time students are allowed to remain on their parents’ health care plans. However, laws vary from state to state, and the change in restrictions can complicate coverage for children who attend out-of-state schools.

If your child can’t stay on your plan, you still have a few options. Many universities offer their own health care policies, but you might not like them. They can come with high deductibles and low coverage maximums. Others may not cover conditions that exist before your child starts classes. Read the school’s policy carefully and apply for an individual policy if necessary.

Student Insurance Tip 3: Adjust Auto Coverage

Believe it or not, you might save money after your child starts college—at least on your car insurance. Say your son or daughter attends a school more than 100 miles away from your home and decides not to keep a vehicle on campus. In this instance, you could see a decrease in your auto insurance premiums of up to 30 percent.

Call us at (800) 489-4684 to talk about how much you could save.

Student Insurance Tip 4: Ask Some Important Questions

Before your child leaves for the fall semester, think through the following questions:

• Are my child’s possessions insured if he or she lives off-campus?

• Do I need to adjust my auto insurance policy if my child drives a vehicle while at school?

• If my son or daughter is an athlete, will the family health plan cover injuries sustained during a practice or game?

Student Insurance Tip 5: Contact MTG Insurance

Give us a call if you need to adjust insurance coverage for your soon-to-be college freshman. We’ll make sure your child is fully protected and find ways to save on your premiums.