Off to College!

Off to College……

by:  Kathy Parsons

So, the kids are off to college?  This affects their, and your, insurance coverage in many different ways.  If your student is living in a dorm, or other campus-owned housing, your auto coverage and homeowners coverage extends to them from your policies.  (They cannot give permission for someone else to use your car, only you can do that, however).

If your student lives in a house or apartment not owned by the college or university, your coverage DOES NOT follow them for either car or auto.  These policies are tied to the phrase “member of your household”.  If they live in a non-college owned apartment or house, even if they are not on the lease, they are no longer members of your household and must obtain their own renter’s policy to cover their belongings and personal liability.  They must also get car insurance in their name, even if the car is still in yours.  Your name would be added as titleholder to cover your interests in the car.  The most common argument agents hear is “Even if…..?”  YES.  Even if.

Call your agent today to make sure you, and your student, are properly covered for their changed circumstances.  After a loss is not the time to find out you should have called before!