HARRISONBURG, Va. (WHSV) – College is a time full of new experiences, and a learning curve for many families is insurance.
This is something you want to learn as soon as possible.
The Crown Corporations Commission advises families to consider health, home or rental and auto insurance.
Young adults can stay on a family health insurance plan until age 26, but it’s important to make sure there are in-network health options near the facility. Health insurance may also be available through the college or university.
When it comes to housing, students can be covered if their parents have a home insurance plan. However, they can always consider additional coverage.
“Certain items like jewelry or expensive electronics may require special coverage,” said Ford Carson of SCC.
For students living off-campus, renters insurance will likely be a requirement.
“Students living off-campus should consider tenant insurance, which typically covers a tenant’s personal property, as well as tenant insurance in case someone is injured on the rented premises,” Carson said.
In some cases, landlords will have insurance, but Carson said you should also make sure your property is covered.
“If a homeowner has some kind of policy in place, you need to check exactly what that covers, because it may only cover the structure itself,” he said.
Car insurance may not change when a student goes to college, but Carson said you should make sure the insurance company or agent knows where the car is stored if it’s different from the address shown on the policy.
If the college is out of state, make sure the plan meets that state’s minimum requirements. Carson said families should also shop around to see if insurance rates are lower in the college town.
“Parents should ask their agent or insurance company for coverage availability, as well as rates for the city and state where the college is located before deciding to keep the student’s car on the family policy. “, Carson said.
Since many companies offer student discounts, check with insurance companies as well.
Carson suggested everyone keep a list of personal possessions along with the cost to replace those items.
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