Preparing For College
When preparing to send your child to college be sure to review:
1. Their college essay
2. Your bank account
3. The film "Animal House"
4. Their insurance coverage
If you selected insurance coverage, you go to the head of the class. When your child moves from home to college there are a number of insurance questions to consider, especially if he or she is planning to live off-campus. Remember, not all insurance policies have the same terms and conditions. Consult your Agent to determine the limits and types of coverage that apply to your family's lifestyle.
Insurance companies consider college students living in dorms to be residents of their parents' home. They also consider your dorm-room contents to be "personal property, located off premises". Most homeowners/renters policies limit coverage up to 10 percent of personal property, off premises. Now if your college student lives off-campus, most insurance companies consider this to be a permanent residence. Therefore, the apartment will not be covered under the parents' homeowners/renters policy for contents or liability. Make sure you know and understand the college 101 insurance facts. Click here to read more about what you need to prepare for college.