Though you may not be able to be with them everyday, it helps to know that you can still keep their belongings and personal property safe. Expensive items such as phones, laptops, TVs and iPods that often accompany most college students to school can be covered under your homeowners’ insurance. If any of these items were stolen or damaged, it would be very costly to replace them. However, you do have options available to insure your child’s security.
If your student goes away to school and is not taking a car with them, you may be thinking of taking them off of your auto insurance policy to save money on your monthly insurance bill. However, what if he comes back for Christmas break and wants the car to visit friends?
Fortunately, some auto insurers offer a discount on insurance for students away at college with no access to a car except over vacations, breaks and summer. If he or she meets certain criteria, you may be eligible for a Distant Student Discount. Requirements vary by insurance provider, but they typically must be at least 100 miles away from home, be attending school full time, and under the age of 23.
As a full time student, your child may also qualify for a Good Student Discount if they maintain a grade average of 3.0 or higher.
At OceanPoint Insurance, we suggest that you review your current homeowners and auto policies with your agent as soon as possible to adjust your coverage if need be and provide yourself with a much-needed peace of mind.